Saudi Cement Co. — Interim / Quarterly Report 2011

Jul 16, 2011

SAUDI CEMENT COMPANY ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30/06/2011 (SIX MONTHS)

3030 · 16/07/2011 15:40:13 · Announcement #22240 · View on Saudi Exchange

SAUDI CEMENT COMPANY ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30/06/2011 (SIX MONTHS)

Saudi Cement Company announces interim financial results for the period ended 30/06/2011 (six months):

1-Net profit for the second quarter was SAR 213.7 million compared to SAR 190.6 million for the corresponding quarter of last year, an increase of 12.1%, and compared with SAR 210.8 million for the previous quarter, an increase of 1.4%.

2-Gross profit for the second quarter was SAR 243.4 million compared to SAR 219.9 million for the corresponding quarter of last year, an increase of 10.7%.

3-Operating profit for the second quarter was SAR 222.6 million compared to SAR 197.7 million for the corresponding quarter of last year, an increase of 12.6%.

4-Net profit for the six months was SAR 424.6 million compared to SAR 367.2 million for the corresponding quarter of last year, an increase of 15.6%.

5-Earnings per share for the six months were SAR 2.78 compared with SAR 2.40 for the corresponding period of last year. Earnings per share were calculated on the basis of the new number of shares following the increase in share capital.

6-Gross profit for the six months was SAR 487 million compared to SAR 425.8 million for the corresponding quarter of last year, an increase of 14.4%.

7-Operating profit for the six months was SAR 440.5 million compared to SAR 380.6 million for the corresponding quarter of last year, an increase of 15.7%.

8-The increase in net profits for the second quarter and the six months in comparison with the corresponding periods of last year is attributed to growth in local demand, increased production efficiency from relying on the new production lines that have achieved better operating efficiency, as well as a decrease in depreciation expenses. The increase in net profits in comparison with the previous quarter is attributed to growth in local demand.

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