Qassim Cement Co. — Interim / Quarterly Report 2012

Oct 9, 2012

QASSIM CEMENT COMPANY ANNOUNCES ITS INTERIM CONSOLIDATED FINANCIAL RESULTS FOR THE THIRD QUARTER OF THE YEAR 2012 FOR THE PERIOD ENDED 30/09/2012.

3040 · 09/10/2012 09:04:25 · Announcement #27185 · View on Saudi Exchange

QASSIM CEMENT COMPANY ANNOUNCES ITS INTERIM CONSOLIDATED FINANCIAL RESULTS FOR THE THIRD QUARTER OF THE YEAR 2012 FOR THE PERIOD ENDED 30/09/2012.

1.Qassim Cement Company announce a consolidated net profit of SAR 110,513,777 for the third quarter of 2012 compared to SAR 114,972,854 for the same quarter of the previous year, which shows a decrease of 3.88% and a decline of 25.82% against the posted net profit of SAR 148,981,567 during the previous second quarter of the current year 2012.

2.The consolidated gross profit during the third quarter is SAR 121,147,995 compared to SAR 126,272,821 for the corresponding period last year, which shows a decrease of 4.06%.

3.The Consolidated operating profit during the third quarter is SAR 113,249,358 compared to SAR 118,451,048 for the corresponding quarter last year, which shows a decrease of 4.39%.

4.The consolidated net profit in nine months amounted to SAR 417,937,800 compared to SAR 406,800,251 for the same period of the previous year which shows an increase of 2.74%.

5.The Earnings per share (EPS) for the nine months amounted to SAR 4.64 against SAR 4.52 for the same period of the previous year.

6.The consolidated gross profit during the nine months amounted to SAR 453,313,751 compared to SAR 443,880,855 for the same period last year, which shows an increase of 2.13%.

7.The consolidated operating profit during the nine months amounted SR 428,771,457 compared to SAR 415,737,858 for the same period of the previous year, showing an increase of 3.14%.

8.The reason for the rise in net profit over the same period last year is due to increase in sales value, while the main reason for the decline in net profit of the third quarter compared to the previous second quarter is due to the decrease in sales volume as a consequence of the advent of the holy month of Ramadan and Eid Al-fitr during the third quarter, in addition the net profit of the third quarter is decreased compared to the same quarter of last year 2011 due to the increase in cost of sales as a result of purchasing clinker.

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