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Abdullah Al Othaim Markets Co. — Earnings Release 2011
Feb 25, 2012
53355_rns_2012-02-25_445e6739-58ae-4d53-9ab6-3a287d4cf45e.html
Earnings Release
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Abdullah Al Othaim Markets Company announces the financial results for the period ended 31/12/2011
4001 · 25/02/2012 16:16:28 · Announcement #24344 · View on Saudi Exchange
Abdullah Al Othaim Markets Company announces the financial results for the period ended 31/12/2011
Abdullah Al Othaim Markets Company announces the financial results for the period ended 31/12/2011
1.Net profit was 150.1 million riyals, against 161.9 million riyals for the previous year, with decline ratio of 7.3%.
2.Earnings per share were SAR6.67, against SAR 7.2 for the previous year.
3.Gross profit was 323.1 million riyals, against 278.3 million riyals for the previous year, with growth ratio of 16.1%.
4.The operating profits were 157.6 million riyals, against 145.1 million riyals for the previous year, with growth ratio of 8.6%.
5.The major reasons behind the decline net profit of 2011 against the previous year are due to recovery of excess allowances amounting SR 7.2 million reported as other income. On the other side, expenses increased in 2011 due to granting Saudi staff two-month salary, expensing acquisition Advisory fees and discontinuing capitalization of finance charges related to Dammam Mall after completion in accordance with accounting standards.
Certain comparative figures have been reclassified to be consistent with the presentation of the current period
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.