Arabian Pipes Co. — Earnings Release 2011

Feb 25, 2012

ARABIAN PIPES COMPANY ANNOUNCES ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDING 31/12/2011.

2200 · 25/02/2012 09:34:54 · Announcement #24326 · View on Saudi Exchange

ARABIAN PIPES COMPANY ANNOUNCES ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDING 31/12/2011.

1 - Net loss for the year amounted to SR (6.7) Million compared with loss SR (3.5) Million for the corresponding period last year a increase of 91%.

2 - Loss per share SR (0.21) compared with loss SAR (0.11) for the same period last year.

3 - Gross profit for the year amounted to SR 34 Million compared to SR 29.2 Million for the corresponding period last year, a increase of 16%.

4 - The operating profit for the year amounted to SR 12 Million compared to loss SR 2.3 Million for the corresponding period last year

5 -The reason of losses due to decrease in sales value as reflection of not releasing any new projects from oil and gas sector in the region, and increase the fixed cost of production for a new factory in Jubail which increased the financial charges by amount of SR 9.6 Million compared to last year and decrease income from investments by amount of SR 2.6 Million compared to last year.

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