National Agricultural Development Co. — Earnings Release 2013

Apr 17, 2013

NADEC announces its interim financial results for the period ended 31-03-2013 (Three months):

6010 · 17/04/2013 16:11:26 · Announcement #30330 · View on Saudi Exchange

NADEC announces its interim financial results for the period ended 31-03-2013 (Three months):

NADEC announces its interim financial results for the period ended 31-03-2013

1. The net income for the first quarter amounted to SR 22.3 million compared to the net income of SR 21.5 million for the same quarter last year , an increase of 4 %, and compared to the net income for the previous quarter of SR 14.3 million , an increase of 56% .

2. The gross profit for the first quarter amounted to SR 161.9 million compared to the same quarter last year of SR 139.6 million representing an increase of 16 %.

3. The income from operations for the first quarter amounted to SR 26.3 million compared to SR 22.3 million for the same quarter last year, an increase of 18 %.

4. The earnings per share for three months amounted to SR 0.37 compared to SR 0.36 for the same period last year.

5. The reason for the increase in the current quarter compared to the same quarter last year is attributed to:

The growth of sales revenue of the dairy and foods processing sector by 19% which was accompanied by an increase in operating and financing cost due to expansion in operations.

6. The reason for the increase in the current quarter compared to the previous quarter of last year is attributed to:

Seasonal consumption of foods products and seasonality of agricultural crops

7. Additional information:

Sales revenue of the company for the first quarter amounted to SR 424.5 million compared to SR 368.1 million for the same period last year, an increase of 15%.

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