Wafrah for Industry and Development Co. — Earnings Release 2012

Feb 23, 2013

FOOD PRODUCTS COMPANY ANNOUNCES THE ANNUAL FINANCIAL RESULTS FOR THE PERIOD ENDING DECEMBER 31, 2012

2100 · 23/02/2013 16:40:21 · Announcement #29104 · View on Saudi Exchange

FOOD PRODUCTS COMPANY ANNOUNCES THE ANNUAL FINANCIAL RESULTS FOR THE PERIOD ENDING DECEMBER 31, 2012

Food Products Company announces the annual financial results for the period ending December 31, 2012.

1. Net profit amounted to SR 5,839,109, compared to SR 9,826,120 for the same period last year, a decrease of 41 %.

2. Net earnings per share reached SR 0.29, compared to SR 0.49 for last year.

3. Gross profit amounted to SR 26,637,926 compared to SR 28,697,065 for the previous year, a decrease of 7 %.

4. Total operating profit was SR 7,884,497 compared to SR 9,125,516 for last year, a decrease of 14 %.

5. The decrease in net profit for the year 2012, compared to that of 2011, is mainly attributed to the decrease in other revenues, and also due to a 2 % decrease in sales value. The latter is a result of reduced export revenue which is caused by the unfavorable circumstances in the Region. The decrease in net profit is also attributed to the increase in the labor cost, and increase in the cost of local and imported raw materials and of packaging materials. However, the prices of companys products were not increasing proportionally.

6. For comparative purposes, some figures of last years results were reclassified to conform to current years presentation.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.