Filling & packing materials Mfg. Co. announces its interim Financial Results for the period ending 31/03/2013 (Three months).
1.The net profit during the first quarter 6.9 Million riyals compared to 7.2 Million for the same quarter of last year, with decrease of 4% and against 5.4 Million for the previous quarter, with increase of 28%.
2.The gross profit during the first quarter 11.9 million riyals compared to 11.6 Million for the corresponding quarter of previous year, with an increase of 2.5%.
3.The operating profit during the first quarter 7.7 Million riyals compared to 7.7 million for the corresponding quarter of previous year.
4.Earnings per share during the first three months is SR 0.60 compared to SR 0.63 for the same period last year.
5.The reason for the decrease in net profit for the first three month is due to the increase in cost of sales especially labor wages.
6.The reason for the increase of net profit for the current quarter comparing to the previous quarter of 2012 is due to increase in sales volume and the improvements in selling prices.
7.Some figures have been reclassified for comparison to conform to the presentation of financial statements for the current year.
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