Abdullah Al Othaim Markets Co. — Earnings Release 2012

Oct 16, 2012

Abdullah Al-Othaim Markets announces the interim financial results for the period ended 30/9/2012 (nine months)

4001 · 16/10/2012 16:14:02 · Announcement #27329 · View on Saudi Exchange

Abdullah Al-Othaim Markets announces the interim financial results for the period ended 30/9/2012 (nine months)

Abdullah Al-Othaim Markets announces the interim financial results for the period ended 30/9/2012 as follows:

1.Net profit for the third quarter was 40.7 million riyals, against 36 million riyals for the corresponding quarter last year, with growth ratio of 13%, and against 36.8 million riyals for the previous quarter with growth ratio of 10.7%.

2.Gross profit for the third quarter was 84 million riyals, against 82.5 million riyals for the corresponding quarter last year, with growth ratio of 1.8%.

3.Operating profit for the third quarter was 35.1 million riyals, against 32.7 million riyals for the corresponding quarter last year, with growth ratio of 7.5%.

4.Net profit for nine-month period was 111.3 million riyals, against 113.6 million riyals for the corresponding period last year, with decline ratio of 2%.

5.Earnings per share for nine-month period was SAR 4.95, against SAR 5.05 for the corresponding period last year.

6.Gross profit for nine-month period was 229.4 million riyals, against 241.9 million riyals for the corresponding period last year, with decline ratio of 5.2%.

7.Operating profit for nine-month period was 102.6 million riyals, against 119.5 million riyals for the corresponding period last year, with decline ratio of 14.1%.

8.The increase in net profit of the third quarter 2012 against third quarter 2011 was mainly due to growth in the profit of the affiliate company Abdullah Al-Othaim Real Estate Investment and Development Company , in addition to improvement in profit margin and rationalization in marketing expenditures despite the increase in operating costs, while the increase in the net profit of the third quarter 2012 against the previous quarter was the growth in the profits of the affiliate company. Although the sales increased during the season, the operations costs absorbed the increase in profit resulted from this additional sales.

The decrease in the net profit for the nine-month period of 2012 against the corresponding period last year was due to the increase in operations costs, particularly staff cost and new stores pre-operating cost which adversely affected the gross profit.

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