SABIC Agri-Nutrients Co. — Earnings Release 2011

Apr 12, 2011

THE SAUDI ARABIAN FERTILIZER COMPANY (SAFCO) ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDING ON MARCH 31, 2011 (3 MONTHS)

2020 · 12/04/2011 16:21:14 · Announcement #21232 · View on Saudi Exchange

THE SAUDI ARABIAN FERTILIZER COMPANY (SAFCO) ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDING ON MARCH 31, 2011 (3 MONTHS)

1. Net income in the 1ST quarter 2011 is SR (833) million, compared to SR (698) million for the corresponding quarter of the previous year, an increase of 19%, and SR (1025) million for the 4TH quarter of 2010, a decrease of 19%.

2. Gross income in the 1ST quarter is SR (775) million, compared to SR (643) million for the corresponding quarter of the previous year, an increase of 21%.

3. Operating income in the 1ST quarter is SR (757) million, compared to SR (618) million for the corresponding quarter of the previous year, an increase of 22%.

4. Earnings per share during the 3 months is SR (3,33), compared to SR (2,79) in the corresponding quarter of the previous year.

5. The increased Net income in the 1ST quarter of 2011 compared to the Net income in the 1ST quarter of 2010 is due to the increased in sales prices, and the decrease against the 4TH quarter of 2010 is due to the decrease in sales volume.

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