Saudi Industrial Export Co. — Earnings Release 2011

Jul 13, 2011

SAUDI INDUSTRIAL EXPORT COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE SECOND QUARTER ENDING AT 30/06/2011 ( SIX MONTHS )

4140 · 13/07/2011 16:01:36 · Announcement #22220 · View on Saudi Exchange

SAUDI INDUSTRIAL EXPORT COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE SECOND QUARTER ENDING AT 30/06/2011 ( SIX MONTHS )

1- The company's net profit during the second quarter is SR 2.00 million compared to loss SR ( 2.90 ) million for the same quarter last year , and compared to profit SR 5.50 million for the last quarter with a decrease of 63% .

2- The company's gross profit during the second quarter is SR 3.60 million compared to loss SR ( 517 ) thousands for the same quarter last year .

3- The company's operating profit for the second quarter is SR 2.50 million compared to loss SR ( 2.30 ) million for the same quarter last year .

4- The company's net profit during the six months is SR 7.50 million compared to loss SR ( 1.90 ) million for the same period last year .

5- The earnings per share during six months is SR 0.69 compared to loss SR ( 0.17 ) For the same period last year .

6- The company's gross profit during the six months is SR 10.70 million compared to SR 2.70 million profit for the same period last year with an increase of 296.3% .

7- The company's operating profit during six months is SR 8.30 million compared to loss SR ( 786 ) thousands for the same period last year .

8- The reasons for the increase in sales and profit during the second quarter of 2011 is due to increase in export volume and profit margin of raw material for fertilizer manufacturing for China market.

In the other hand, the decrease in profit during second quarter 2011 compared to first quarter 2011 is due to drop in profit margin due to supply and demand

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