Advanced Building Industries Co. — Interim / Quarterly Report 2012

Apr 18, 2012

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED INTERIM FINANCIAL RESULTS FOR PERIOD ENDING 31/03/2012 (THREE MONTHS)

2240 · 18/04/2012 18:10:06 · Announcement #25385 · View on Saudi Exchange

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED INTERIM FINANCIAL RESULTS FOR PERIOD ENDING 31/03/2012 (THREE MONTHS)

Zamil Industrial Investment Company (Zamil Industrial) has announced its interim financial results for the period ending 31 March 2012:

1. Net profits for the first quarter of 2012 were SAR 37.509 million (USD 10 million), compared to SAR 36.755 million (USD 9.8 million) during the same period in 2011, representing an increase of 2.1 percent, and compared to SAR 35.953 million (USD 9.6 million) posted in the previous quarter (Q4) a growth of 4.3 percent.

2. Gross profit for the first quarter of 2012 was SAR 240.610 million (USD 64.2 million), compared to gross profit of SAR 220.824 million (USD 58.9 million) for the same period in 2011, an increase of 9 percent.

3. Operating profits during the first quarter was SAR 70.812 million (USD 18.9 million) compared to SAR 59.632 million (USD 15.9 million) in the same period in 2011, an increase of 18.7 percent.

4. Earnings Per Share grew to SAR 0.63 (USD 0.17) from SAR 0.61 (USD 0.16) in the same period in 2011.

5. The reason behind the improvement in the first quarter compared to the same period last year and that of the fourth quarter of 2011 was due to a 14 percent increase in sales and higher production volumes although local and regional competition continued to affect margins. On the other hand, the drop in Other Income was due to foreign currency exchange gains reflected in the same period in 2011. While the increase in Financial Charges was mainly due to increase in Murabaha financing. Whereas the increase in Minority Interests was a consequence of the consolidation of Gulf Insulation Group Company.

6. Certain figures for the first quarter of 2011 have been reclassified to conform with the presentation in 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.