Basic Chemical Industries Co. — Earnings Release 2012

Oct 16, 2012

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING IN 30/09/2012 (NINE MONTHS)

1210 · 16/10/2012 17:14:34 · Announcement #27340 · View on Saudi Exchange

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING IN 30/09/2012 (NINE MONTHS)

Basic Chemical Industries Company ( BCI ) announces the interim financial results ended 30/09/2012 as follows:

I. 3Q Net Income SAR 14.7 million against SAR 13.8 million for the same quarter of previous year with 6.5% increase, and against SAR 17.3 million for the previous quarter with 15 % decrease.

2. 3Q Gross Income SAR 43.2 million against SAR 42.4 million for the same quarter of previous year with 1.9 % increase.

3. 3Q Operating Income SAR 24.2 million against SAR 23.7 million for the same quarter of previous year with 2.1 % increase.

4. Net Income SAR 49.5 million during 9 months against SAR 47.5 million for the same period of previous year with 4.2 % increase.

5. Earnings per share SAR 1.80 during 9 months against SAR 1.72 for the same period of previous year.

6. Gross Income SAR 141.2 million during 9 months against SAR 134.2 million for the same period of previous year with 5.2 % increase.

7. Operating Income SAR 82.3 million during 9 months against SAR 78 million for the same period of previous year with 5.5 % increase.

8. The reason for increase in the quarter 3 2012 profit compared with the same period of last year due to reduction in cost of sales. The reason for decrease in profit in the third quarter compared to the second quarter of the same year is due to lower sales in the third quarter by SAR 26 million and this is due to decrease in sales of two of the entities of the company.

9. The reason for the increase in operational profit and gross profit during the first nine months of 2012 compared to the same period of the previous year 2011 is due to increase of sales with same ratio of increase in cost of sales, which resulted on direct increase in gross profit and operational profit. The increase in net profit for the 9 months compared with same period of last year is due to increase in sales.

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