Alujain Corp. — Interim / Quarterly Report 2013

Jul 18, 2013

Alujain Corporation announces the interim consolidated financial results for the period ending on 30-06-2013 (Six Months)

2170 · 18/07/2013 09:31:11 · Announcement #31670 · View on Saudi Exchange

Alujain Corporation announces the interim consolidated financial results for the period ending on 30-06-2013 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	34.94	14.36	143.31	-	-
Gross profit (loss)	102.07	78.12	30.66	19.39	426.41
Operational profit (loss)	83.61	58.77	42.27	0.14	59,621.43
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	19.05	23.95	-
Gross profit (loss)	121.41	141.27	-
Operational profit (loss)	83.74	103.76	-
Earning or loss per share, Riyals	0.28	0.35	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Increase in net profit during 2nd quarter, 2013 is mainly due to higher sales quantities and better productivity. The finance charges are also favorable mainly due to new financing arrangement through Islamic bridge facility.
Reasons of increase (decrease) for period compared with same period last year	Decrease in net profits during YTD, 2013 as compared to YTD, 2012 is mainly due to lower sales quantities. The sales quantities were very low due to planned shutdown during 1st quarter 2013. The YTD 2013, the finance charges are also favorable mainly due to new financing arrangement through Islamic bridge facility. The general & administrative expenses increased by SR 0.8 million during first half of 2013 mainly due to increase in corporate expenses and technical consultancies. Sales & marketing expenses have slightly decreased due to low warehouse management cost because of lower sales in first half of 2013 compared to first half of 2012.
Reasons of increase (decrease) for quarter compared with previous quarter	Increase in net profits during 2nd quarter, 2013 as compared to 1st quarter, 2013 is mainly due to higher Sales quantities, although the product sales prices declined slightly during 2nd quarter 2013 and better productivity. The sales quantities during the 1st quarter were very low due to the planned shutdown, already announced on Tadawul.
Reclassifications in quarterly financial results	Certain reclassifications were made in comparative numbers to conform to the current period

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