Basic Chemical Industries Co. — Interim / Quarterly Report 2012

Jul 17, 2012

BASIC CHEMICAL INDUSTRIES COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED JUNE 30, 2012 (SIX MONTHS).

1210 · 17/07/2012 17:49:41 · Announcement #26480 · View on Saudi Exchange

BASIC CHEMICAL INDUSTRIES COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED JUNE 30, 2012 (SIX MONTHS).

1. Net profits for Qrt. 2 ending in June 30, 2012 was SR 17.3 million, compared to SAR 19.9 million in Qrt.2 of 2011 with a decrease of 13 % and SAR 17.5 million in Qrt. 1 in 2012 with a decrease of 1 %.

2. Gross profit for Qrt. 2/2012 was SAR 51.2 million, compared to SAR 52 million in Qrt. 2/2011 with a decrease of 1.5 %.

3. Operating profit for Qrt. 2/2012 was SAR 29.9 million, compared to SAR 33.1 million in Qrt. 2/2011 with a decrease of 9.7 %.

4. Semiannual net profit for the first six months of 2012 was SAR 34.9 million, compared to SAR 33.6 million for the same period of 2011; with an increase of 3.9 %.

5. Earnings per share for the six months 1.27 riyals, compared to 1.22 for the same period last year.

6. Gross profit during the first six months of 2012 were SAR 98 million comparing to SAR 91.8 million in 2011 with an increase of 6.8 %.

7. Operating profit for the first six months was SAR 58.1 million comparing to SAR 54.3 million for the same period of 2011 with an increase of 7 %.

8. The reason for decrease in net profit, gross profit and operating profit for the 2nd quarter of this year compared with the second quarter of last year and the first quarter of this year is due to increase in cost of sales and increase in Semiannual profit during the six months of this year compared to the same period of last year is due to increase in sales. Gross profit and operating profit increase during the six months of this year compared to the same period of last year is due to increase in sales.

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