Basic Chemical Industries Co. — Earnings Release 2013

Apr 20, 2013

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31.03.2013 (3 MONTHS)

1210 · 20/04/2013 18:15:08 · Announcement #30465 · View on Saudi Exchange

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31.03.2013 (3 MONTHS)

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31.03.2013 (3 MONTHS) as follows:

1. The company's net profit during the Q1-2013 was SR 16.2 million compared to SR 17.5 million for the same quarter last year which is a decrease of 7.4% and compared to SR 16.3 million for the previous quarter which is a decrease of 0.6%.

2. The company's gross profit during the Q1-2013 was SR 46.5 million compared to SR 46.7 million for the same quarter last year which is a decrease of 0.4%.

3. The company's income from operation during the Q1-2013 was SR 27.7 million compared to SR 28.2 million for the same quarter last year which is a decrease of 1.8%.

4. The company's Earnings per share during 3 months was SR 0.59 compared to SR 0.64 for the same period last year.

5. The decrease in the first quarter 2013 compared to the same quarter last year is due to the increase on the profit share of the non-controlling interest compare with the share of the company from operating income.

6. The decrease in profit in the first quarter 2013 compared to the previous quarter is due to decrease in sales and increase in marketing and selling expenses.

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.