Abdullah Al Othaim Markets Co. — Earnings Release 2011

Oct 19, 2011

Abdullah Al Othaim Markets announces interim financial results for the period ended 30/9/2011(nine months).

4001 · 19/10/2011 18:04:32 · Announcement #23084 · View on Saudi Exchange

Abdullah Al Othaim Markets announces interim financial results for the period ended 30/9/2011(nine months).

1.Net profit for the third quarter was 36 million riyals, against 45.9 million riyals for the corresponding quarter of the previous year, with decline ratio of 21.5%, and against 41.1 million riyals for the previous quarter with decline ratio of 12.4%.

2.The gross profit for the third quarter was 82.5 million riyals, against 68 million riyals for the corresponding quarter of the previous year, with growth ratio of 21.3%.

3.The operating profit for the third quarter was 32.7 million riyals, against 31 million riyals for the corresponding quarter of the previous year, with growth ratio of 5.5%.

4.Net profit for the nine-month period was 113.6 million riyals, against 108.9 million riyals for the same period of the previous year, with growth ratio of 4.3%.

5.Earnings per share for the nine-month period were SAR 5.05, against SAR 4.84 for the same period of the previous year.

6.Gross profit for the nine-month period was 241.9 million riyals, against 187.5 million riyals for the same period of the previous year, with growth ratio of 29%.

7.The operating profit for the nine-month period was 119.5 million riyals, against 91.3 million riyals for the same period of the previous year, with growth ratio of 30.9%.

8.The decline in net profit of the third quarter of 2011 compared to the same period last year was due to reversal of excess provisions recovered amounting 7.7 million riyals reported as other income in the corresponding quarter of 2010, in addition to discontinuing capitalization of finance charges related to Dammam Mall after completion, in accordance with accounting standards. The growth in net profit for the year to date in comparison with the same period in 2010 is due to the growth in revenue by %18.68, increase in number of new stores, and the organic growth. Additionally Dammam Mall Lease contract started on 1/1/2011.

Certain comparative figures have been reclassified to be consistent with the presentation of the current period.

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