Almarai Co. — Earnings Release 2010

Jul 10, 2010

Almarai Company announces its consolidated financial results for the period ended 30 June 2010 (Six Months)

2280 · 10/07/2010 08:46:18 · Announcement #18651 · View on Saudi Exchange

Almarai Company announces its consolidated financial results for the period ended 30 June 2010 (Six Months)

Almarai Company (Almarai) today announced its interim consolidated financial results for the period ended 30 June 2010.

1) For the second quarter ended 30 June 2010 Almarai generated a consolidated net profit amounting to SAR 343.1 million an increase of 19.5%, compared to the same period last year (SAR 287.1 million) and an increase of 46.5% compared to the first quarter 2010 (SAR 234.1 million).

2) The total gross profit for the second quarter ended 30 June, 2010 amounted to SAR 701.1 million an increase of 18.6%, compared to the same period last year (SAR 591.3 million).

3) The operating profit for the second quarter ended 30 June 2010 amounted to SAR 387.7 million an increase of 15.6%, compared to the same period last year (SAR 335.4 million).

4) The consolidated net profit for the first six months ended 30 June 2010 amounted to SAR 577.2 million an increase of 19.1% compared to the same period last year (SAR 484.5 million).

5) The earnings per share (EPS) for the six months ended 30 June 2010 was SAR 5.02 compared to SAR 4.44 for the prior year.

6) The total gross profit for the first six months ended 30 June 2010 amounted to SAR 1,271.2 million an increase of 15.6% compared to the same period last year (SAR 1,099.6 million).

7) The operating profit for the first six months ended 30 June 2010 amounted to SAR 665.8 million an increase of 14.1% compared to the same period last year (SAR 583.6 million).

8) Turnover for the second quarter ended 30 June 2010 amounted to SAR 1,738.9 million an increase of 20.2% compared to the same period last year. (SAR 1,447.1 million).

9) Turnover for the first six months ended 30 June 2010 amounted to SAR 3,298.4 million an increase of 18.9% compared to the same period last year. (SAR 2,773.2 million).

10) This performance is the result of increased sales and market share arising from Almarai's ability to serve its customers with consistently high quality products due to the ongoing investment in production and distribution capacities.

Almarai is pleased to report that we have been gradually importing the animal forage required to produce dairy products exported outside the Kingdom of Saudi Arabia. This year 80% of Almarai's forage requirements for dairy exports will be imported while next year this will increase to 100%. These actions will further support the efforts of the Government of the Custodian of the Two Holy Mosques in the conservation and rational use of water.

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.