Sustained Infrastructure Holding Co. — Interim / Quarterly Report 2011

Apr 19, 2011

Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 31 March 2011 (three months).

2190 · 19/04/2011 16:46:27 · Announcement #21383 · View on Saudi Exchange

Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 31 March 2011 (three months).

Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 31 March 2011 as follows:-

1.Net loss reached SR (785,705) compared to net profit of SR 2,095,355 in the comparable quarter of 2010, and compared to net loss of SR (3,771,451) in the Fourth quarter of 2010 with 80% decrease.

2.Gross profit reached SR 31,458,787 compared to SR 20,584,187 in the comparable quarter of 2010, with 52% increase.

3.Operating profit reached SR 9,479,257 compared to SR 6,389,193 in the comparable quarter of 2010, with 48% increase.

4.Net loss per share reached (0.01) compared to net profit per share of SR 0.03 in the comparable period of 2010.

5.Despite the increase in the operating profit during this quarter, compared to the similar quarter of the previous year, the company sustained losses due to the financial charges related to Red Sea Gateway Terminal Company as its project commenced operation.

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