Filling & packaging materials (Mfg.) Co.( FIPCO ) is announced the interim financial results for the period ended 31/12/2011 G (twelve months) :
1 - The net profit during the fourth quarter of 5.2 million SR compared to profit of SR 6.4 million for the same quarter last year, a decreased of 19% compared to 0.42 million SR for the third quarter and an increased of 1138%.
2 - The gross profit during the fourth quarter of 9.6 million SR compared to 10.5 million for the same quarter of last year, a decreased of 9%.
3 - The operating profit during the fourth quarter 5.7 million SR compared to 7.1 million for the same quarter of last year, a decreased of 20%.
4 - Net profit for the twelve months 16.1 million SR compared to 21.6 million SR for the same period last year, a decreased 25%.
5 - Earnings per share for the twelve months 1.40 SR compared to 1.88 SR for the same period of the year, a decreased of 26%.
6 - The gross profit during the twelve months, 31.8 million SR compared to 35.7 million SR for the same period last year, a decreased of 11%.
7 - The operating profit during the twelve months 17.7 million SR compared to 22.8 million SR for the same period last year, a decreased of 22%.
8 - The reason for increase in the net profits during the fourth quarter compared to the previous quarter of this year by improving sales and improve sales prices and reducing production costs and focuses on products with high profitability in the fourth quarter of this year.
9 - The reason for decrease in net profit during the twelve months of this year compared to the same period the last year to several factors, including:
A - High direct costs in general and particularly in the production of salaries and wages, where the company hiring new workers, which lead to a reducing in profit margin.
B - The company's commitment to some long-term contracts at very low prices resulting in lower net profits.
C - Low demand for some products with good profitability.
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