Almarai Co. — Earnings Release 2011

Jul 9, 2011

Almarai Company announces its consolidated financial results for the period ended 30 June 2011 (Six Months)

2280 · 09/07/2011 09:18:56 · Announcement #22150 · View on Saudi Exchange

Almarai Company announces its consolidated financial results for the period ended 30 June 2011 (Six Months)

1)For the second quarter ended 30 June 2011 Almarai generated a consolidated net profit amounting to SAR 349.3 million, an increase of 1.8% compared to the same period last year (SAR 343.1 million) and an increase of 48.5% compared to the first quarter 2011 (SAR 235.2 million).

2)The total gross profit for the second quarter ended 30 June 2011 amounted to SAR 767.2 million, an increase of 9.4% compared to the same period last year (SAR 701.1 million).

3)The operating profit for the second quarter ended 30 June 2011 amounted to SAR 405.8 million, an increase of 4.7% compared to the same period last year (SAR 387.7 million).

4)The consolidated net profit for the first six months ended 30 June 2011 amounted to SAR 584.5 million, an increase of 1.3% compared to the same period last year (SAR 577.2 million).

5)The earnings per share (EPS) for the six months ended 30 June 2011 was SAR 2.54 compared to SAR 2.51 for the prior year. Note that the EPS calculation for the second quarter 2010 has been restated to reflect the Bonus Issue of December 2010.

6)The total gross profit for the first six months ended 30 June 2011 amounted to SAR 1,401.4 million, an increase of 10.2% compared to the same period last year (SAR 1,271.2 million).

7) The operating profit for the first six months ended 30 June 2011 amounted to SAR 697.2 million, an increase of 4.7% compared to the same period last year (SAR 665.8 million).

8)Turnover for the second quarter ended 30 June 2011 amounted to SAR 2,012.9 million, an increase of 15.8% compared to the same period last year (SAR 1,738.9 million).

9)Turnover for the first six months ended 30 June 2011 amounted to SAR 3,756.4 million, an increase of 13.9% compared to the same period last year (SAR 3,298.4 million).

10)Compared with the same period last year, the second quarter has been negatively impacted from continued commodity price inflation. The increase in raw material costs is impacting the following key areas:

?Feedstuffs

?Packaging materials

?Dairy commodities

?Juice concentrates

Considering the impact of these cost increases, Almarai is satisfied with the overall performance in the second quarter with continued sales growth and increased market share across all key product categories. Almarai is committed to ensuring the highest level of quality in all its products and to providing the highest level of service to all consumers.

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.