ARABIAN CEMENT COMPANY ANNOUNSES INTERIM CONSOLIDATED FINANCIAL RESULTS FOR THE THIRED QUARTER OF THE YEAR 2012 FOR THE PERIOD ENDED 30/09/2012AS FOLLOWING:
1- The net profit during the third quarter is 87 million riyals compared to 104.9 million riyals for the same quarter of previous year which showing a decrease of 17%, against posted 71.9 million riyals for the previous quarter which showing an increase of 21%.
2-The gross profit during the third quarter is 98.6 million riyals compared to 125.7 million riyals for the corresponding quarter of the previous year, a decrease of 21.5%.
3-The operating profit during the third quarter is 89.9 million riyals compared to 114.3 million riyals of the previous year, a decrease of 21.3%.
4-The net profit during the nine months is 305 million riyals compared to 332.7 million riyals of the previous year, a decrease of 8.3%.
5-Earnings per share for the nine months isSAR 3.81 compared to SAR 4.16 of the previous year.
6-The gross profit for the nine months is 446.1 million riyals compared to 399 million riyals of the previous year, an increase of 11.8%.
7-The operation profit for nine months 317.2 million riyals compared to 363.5 million riyals of the previous year, a decrease of 12.7%.
8- The reason for decline of net profit by SR18 million for the current quarter compared to the same quarter of previous year is due to the increase of loss in Qatrana Cement in Jordan form SR 12.9 million in previous year to SR 26.9 million for current year in addition to decrease in volume of sales by SR 4.00 million during month of Ramadan & Eid holidays, and the reason for the increase of net profit for the current quarter compared by the previous quarter is due to impairment of Qatrana Cement assets & property by SR 86.8 million in previous quarter, besides, there is a decline in the current quarter sales by SR 70 million during the month of Ramadan.
9-The reason for decrease in net profit for the current nine months compared to the same nine months of previous year return to the increase of loss in Qatrana Cement from SR 30 million in the previous year to SR 135 million in the current year, although there is increase in gross sales by SR 103 million which lead to increase in gross profit for the current nine months compared to the same period of previous year.
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.