Takween Advanced Industries Co. — Interim / Quarterly Report 2012

Jul 17, 2012

TAKWEEN ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED JUNE 30, 2012 (SIX MONTHS)

1201 · 17/07/2012 18:32:15 · Announcement #26487 · View on Saudi Exchange

TAKWEEN ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED JUNE 30, 2012 (SIX MONTHS)

Takween announces interim financial results for the period ended June 30, 2012 as follows:

1.The net income for second quarter amounted to SR 21.2M compared to SR 22.1M for the same quarter of prior year, representing a decrease of 4% and compared to a net income for the prior quarter of SR 13.4M representing an increase of 58%.

2.The gross profit for the second quarter amounted to SAR 33.4M compared to 34.2M for the same quarter of prior year, representing a decrease of 2%.

3.The income from operation for the second quarter amounted to SR 23M compared to SR 25.4 M for the same quarter of prior year, representing a decrease of 9%.

4.The net income for the six months amounted to SR 34.5M compared to SR 35.2M for the same period of prior year, representing a decrease of 2%

5.The earning per share for the six months period amounted to SR 1.15 compared to SR 1.17 for the same period of prior year.

6.The gross profit for the six months amounted to SR 60.5M compared to SR 60.3M for the same period of prior year, representing a increase of 0.3%

7.The income from operation for the six months amounted to SR 39.6M compared to 42.4M for the same period of prior year, representing an decrease of 7%.

8. Net income for the second quarter decreased compared with the same quarter for the prior year as well as the net income for the six months compared with the same period of prior year due to decrease in sales because of the order backlog mainly linked to growth slowdown in some markets. This decrease also came from increase in selling, distribution and general and administration expenses arising from strengthening the Corporate office after the company went public. Net income for the second quarter increased 58% compared to the prior quarter due to increase in sales.

The company paid cash dividends worth of 40.5 M which represents 13.5% of the paid in capital, 1.35 SAR per share, for the fiscal year 2011

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