1.The net profit during the Second Quarter amounts to SR 47.2 million as against SR 86.78 million for the same quarter of last year, a decrease of 46 %; and, against profit of SR 46.27 million for the previous quarter, an increase of 2%.
2.The gross profit during the Second Quarter amounts to SR 96.86 million as against SR 154.52 million for the same quarter of last year, a decrease of 37 %.
3.The operating profit during the Second Quarter amounts to SR 55.43 million as against SR 97.14 million for the same quarter of last year, a decrease of 43 %.
4.The net profit during the six months amounts to SR 93.47 million as against SR 170.92 million for the same period of last year, a decrease of 45 %.
5.The profit per share during the six months amounts to SR 1.23 as against SR 2.25 for the same period of last year.
6.The gross profit during the six months amounts to SR 204.96 million as against SR 311.9 million for the same period of last year, a decrease of 34 %.
7.The operating profit during the six months amounts to SR 113.36 million as against SR 193.87 million for the same period of last year, a decrease of 42 %.
8.The decrease in profits is mainly because of down turn of sales in the domestic and regional markets as a result of the global financial crisis.
As indicated in our previous announcements, the Net Worth continues to grow positively as a result of our profitability and the reversal of the temporary decline in the Cumulative changes in fair value, that arose mainly from our 50% owned Bahraini company. This improvement was achieved on the subsequent shipment of the orders on hand. The Net Worth at 30 June 2009 stands at SR 1.22 Billion as compared to SR 1.05 billion at 31 December 2008, an increase of SR 169.6 million.
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.