Saudi Ceramic Company today announced its interim financial results for the period ended 31December 2011(Twelve months).
1- Saudi Ceramics generated a net profit for the fourth quarter amounting to SAR52.5 million a decrease of 8% compared to the same period last year (SAR 56.8 million) and a decrease of 3% compared to the third quarter 2011 (SAR54.2 million).
2-The total gross profit for the fourth quarter amounted to SAR 109.3 million an increase of 7 % compared to the same period last year (SAR 102.4 million).
3-The operating profit for the fourth quarter amounted to SAR 55.8 million a decrease of 1% compared to the same period last year (SAR 56.2 million).
4-The net profit for the twelve months amounted to SAR 232 million an increase of 5% compared to the same period last year (SAR 220.6 million).
5-The earnings per share (EPS) for the twelve months were SAR 9.28 compared to SAR 8.82 for the prior year.
6-The total gross profit for the twelve months amounted to SAR 446.7 million an increase of 13% compared to the same period last year (SAR 393.7 million).
7-The operating profit for the twelve months amounted to SAR 243.9 million an increase of 10% compared to the same period last year (SAR 222.3 million).
8- Decrease in fourth quarter net profit is due to increase in electric water heaters sales which has lower margin compared with ceramic products. However, positive annual results and growth of 2011 compared with 2010is due to the companys growing production capacity and sales.
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