Alujain Corp. — Interim / Quarterly Report 2011

Apr 20, 2011

Alujain announces its interim Financial Statements for the period ending 31st March 2011 (Three months)

2170 · 20/04/2011 17:22:23 · Announcement #21504 · View on Saudi Exchange

Alujain announces its interim Financial Statements for the period ending 31st March 2011 (Three months)

Alujain announces its financial statements for the period ending 31 March 2011:

1. Net Income during the 1st quarter was SR11.4 million as compared to a net loss of SR6.7 million during the same period of last year and compared to net income of SR38.2 million during the previous quarter representing a 70% decrease.

2. Gross profit during the 1st quarter was SR57.2 million compared to zero (0) gross profit during the same period of last year.

3. Operating Income during the 1st quarter was SR40.3 million compared to operating loss of SR11.7 million during the same period in 2010.

4. Income per common share during past 3 months of SR0.16 compared to loss of SR0.10 per common share during the same period in 2010.

5. The reason for increase in net income for the 1st quarter 2011 in comparison to the same period of last year was mainly due to profits derived from subsidiary (NatPet) which started its operations during the 3rd quarter 2010. The reason for decrease in net income in the 1st quarter 2011 in comparison to 4th quarter 2010 was mainly due to decline in profits derived from NatPets operations. The decline resulted from lower production and sales due to plant shutdowns and related issues.

Certain reclassifications of prior year figures have been made in the Consolidated Income Statement to reflect the start of the subsidiarys commercial operations.

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.