Alujain Corp. — Interim / Quarterly Report 2012

Jul 18, 2012

Alujain announces its Interim Financial Statements for the period ending 30th June 2012 (Six Months) Cont?

2170 · 18/07/2012 16:27:14 · Announcement #26542 · View on Saudi Exchange

Alujain announces its Interim Financial Statements for the period ending 30th June 2012 (Six Months) Cont?

(C) YTD, 2012 Vs. YTD, 2011

The reasons for increase in net profits during YTD, 2012 as compared to YTD, 2011 is mainly due to higher sales quantities, the sales quantities during 2nd quarter 2011 were low due to the scheduled turnaround during that period.

The general & administrative expenses increased by SR 1.4 million during first half of 2012 mainly due to increase in IT related expenses and incurred foreign exchange losses of SR 3.8 million as compared to SR 5.7 million gain during comparable period of last year, mainly due to the same reason as explained above. Sales & marketing expenses have increased due to high warehouse management cost because of higher direct sales in first half of 2012 compared to first half of 2011.

Certain reclassifications were made in the comparative June 30, 2011 interim consolidated financial statements to conform to June 30, 2012 presentation.

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