National Agricultural Development Co. — Earnings Release 2011

Feb 18, 2012

NADEC announces its annual consolidated financial results for the Year ended December 31, 2011:

6010 · 18/02/2012 08:46:52 · Announcement #24117 · View on Saudi Exchange

NADEC announces its annual consolidated financial results for the Year ended December 31, 2011:

1.The net income amounted to SR 91.3 million compared to SR 10.5 million for last year, an increase of 770 %

2.The earnings per share amounted to SR 1.52 compared to SR 0.17 for last year

3.The gross profit amounted to SR 547.8 million compared to SR 478.4 million for last year, an increase of 15 %

4.The income from operations amounted to SR 118.4 million compared to SR 36.2 million for last year, an increase of 227 %

5.Sales revenue amounted to SR 1,556 million compared to SR 1,448 million for last year, an increase of 7 %

6.The increase in net income for the fiscal year 2011 is attributable to:

The improvement in business performance of both the agricultural sector and dairy sector compared to last year. On the other hand, despite the continued commodity prices inflation, the company was able to reduce its effect by cost control programs, improving efficiency and assets utilization

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