AFG International Co. — Earnings Release 2012

Jan 14, 2012

FAWAZ ALHOKAIR & CO (ALHOKAIR) ANNOUNCES ITS INTERIM RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2011(NINE MONTHS).

4240 · 14/01/2012 08:28:54 · Announcement #23587 · View on Saudi Exchange

FAWAZ ALHOKAIR & CO (ALHOKAIR) ANNOUNCES ITS INTERIM RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2011(NINE MONTHS).

1.For the third quarter ended 31 December 2011, Alhokair achieved net profit of SAR76.5M, an increase of 126% compared to the same period last year SAR 33.9M , and a drop of 62% compared to 2nd quarter 2011 SAR 201.8M.

2. The gross profit for the third quarter ended 31 December 2011 amounted to SAR352.5M, an increase of 32% compared to the same period last year SAR 266.8M.

3. The operating profit for the third quarter ended 31 December 2011 amounted to SAR 74.7M, an increase of 77% compared to the same period last year SAR 42.2M.

4. The net profit for the nine months ended 31 December 2011 is SAR 360M, an increase of 38.5% compared to the same period last year SAR 260.1M.

5. The Earnings Per Share (EPS) for the nine months ended 31 December 2011 is SAR5.14 compared the same period last year (SAR 3.72).

6.The gross profit for the nine months ended 31 December 2011 is SAR 1,141.4M, an increase of 29.2% compared to the same period last year SAR 882.8M.

7.The operating profit for the nine months ended 31 December 2011 amounted to SAR 360.4M, an increase of 59.3% compared to the same period last year SAR 226.1M.

8. The reasons for increase in net profit in the nine months and the three months ending Dec 31 compared with the same period last year is the increase of the sales for the same stores, the success of company policy in adding new brands and increasing the number of stores for the brands of outstanding performance in both Saudi market and international market while the operating expenses is well controlled to achieve the desired operating leverage from increasing the sales.

The decrease in third quarter profit compared with the second quarter is due to the season factor of Ramadan month falling in the second quarter.

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.