Saudi Industrial Export Co. — Earnings Release 2012

Oct 10, 2012

SAUDI INDUSTRIAL EXPORT COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE THIRD QUARTER ENDING AT 30/09/2012 ( NINE MONTHS )

4140 · 10/10/2012 16:12:54 · Announcement #27222 · View on Saudi Exchange

SAUDI INDUSTRIAL EXPORT COMPANY ANNOUNCES ITS FINANCIAL RESULTS FOR THE THIRD QUARTER ENDING AT 30/09/2012 ( NINE MONTHS )

1. The company's net profit during the third quarter is SR 1.3 million compared to profit SR 1.6 million for the same quarter last year with a decrease 18.75%, and compared to profit SR 508 thousands for the last quarter with an increase of 155.9% .

2. The company's gross profit during the third quarter is SR 1.3 million compared to profit SR 1.5 million for the same quarter last year with a decrease 13.3%.

3. The company's operating profit for the third quarter is SR 342 thousands compared to profit SR 619 thousands for the same quarter last year with a decrease of 44.75% .

4. The company's net profit during the nine months is SR 2.2 million compared to profit SR 9.1 million for the same period last year with a decrease 75.8%.

5. The earnings per share during nine months is SR 0.20 compared to earning of SR 0.84 for the same period last year.

6. The company's gross profit during the nine months is SR 4.6 million compared to SR 12.3 million profit for the same period last year with a decrease of 62.6%.

7. The company's operating profit during nine months is SR 1.4 million compared to profit SR 8.9 million for the same period last year with a decrease 84.3%.

8. The reasons for the decrease in sales and profit between the third quarter and the period of 2012 compared to the same quarter and period of last year is mainly due to sharp drop in prices and profit margin due to increase in supply and decrease in demand for export of the raw material for fertilizer manufacturing to China market.

9. The reason for the increase in sales and profit during third quarter compared to the last quarter of this year is due to the increase in volume of new export products such as plastic raw material to Ethiopia, distribution of food products for local market and import of raw material to local factories.

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