Al-Jouf Agricultural Development Co. — Earnings Release 2011

Jul 16, 2011

AL-JOUF AGRICULTURAL DEVELOPMENT (ALJOUF) COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2011 (SIX MONTHS)

6070 · 16/07/2011 08:34:17 · Announcement #22230 · View on Saudi Exchange

AL-JOUF AGRICULTURAL DEVELOPMENT (ALJOUF) COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2011 (SIX MONTHS)

FOR THE SECOND QUARTER ENDED 30 JUNE 2011 AL-JOUF AGRICULTURAL DEVELOPMENT COMPANY (AL-JOUF) ANNOUNCES ITS INTERIM FINANCIAL RESULTS :

1)The net profit amounting to SAR 15.13 million, an increase of 26.11% compared to the same period last year (SAR 12 million) and an increase of 150.08% compared to the first quarter 2011 (SAR 6.04 million).

2)The total gross profit for the second quarter ended 30 June 2011 amounted to SAR 23.51 million, an increase of 34% compared to the same period last year (SAR 17.50 million).

3)The operating profit for the second quarter ended 30 June 2011 amounted to SAR 15.52 million, an increase of 42% compared to the same period last year (SAR 10.93 million).

4)The consolidated net profit for the first six months ended 30 June 2011 amounted to SAR 21.18 million, an increase of 11% compared to the same period last year (SAR 19.15 million).

5)The earnings per share (EPS) for the six months ended 30 June 2011 was SAR 0.85 compared to SAR 0.77 for the prior year.( An increase in capital to SR 250 million for 200 million the previous financial period)

6)The total gross profit for the first six months ended 30 June 2011 amounted to SAR 30.78 million, an increase of 1% compared to the same period last year (SAR 30.36 million)

7) The operating profit for the first six months ended 30 June 2011 amounted to SAR 18.28 million, an increase of 5% compared to the same period last year (SAR 17.40 million).

8) Reason for the rise in net profits for the second quarter ended 30 June 2011 Result of the increase in sales value compared to the same period last year.

9) Reason for the rise in net profits for the first six months is the decline in cost of sales compared to the same period last year as well as reduced sales and marketing expenses .

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