Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 30 September 2011 as follows:
1. Net profit in the third quarter reached SR 6,993,548 compared to net profit of SR 229,330 in the comparable quarter of 2010 with 2949.5% increase, and compared to net profit of SR 5,349,298 in the second quarter of 2011 with 30.7% increase .
2.Gross profit in the third quarter reached SR 48,666,002 compared to SR 31,458,109 in the comparable quarter of 2010, with 54.7 % increase.
3.Operating profit in the third quarter reached SR 23,101,116 compared to SR 14,902,507 in the comparable quarter of 2010, with 55% increase.
4.Net profit for the nine months ended 30/09/2011 reached SR 11,557,141 compared to net profit SR 4,540,766 for the same period of 2010 with 154.5% increase .
5.Net profit per share for the nine months ended 30/09/2011 reached 0.170 compared to net profit per share of SR 0.067 in the comparable period of 2010.
6.Gross profit for the nine months ended 30/09/2011reached SR 123,257,646 compared to Gross profit of SR 80,125,538 in the comparable period of 2010, with 53.8% increase .
7.Operating profit for the nine months ended 30/09/2011 reached SR 53,967,505 compared to operating profit of SR 28,439,244 in the comparable period of 2010, with 89.7% increase.
8.Net profit for the third quarter, and the nine months ended 30 September 2011 compared to the similar periods of last year, Is higher due to improvement in operating results , which was mainly contributed by Red Sea Gateway Terminals improved operating activities.
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