Abdullah Al Othaim Markets announces interim financial results for the period ended 30/6/2011
1.Net profit for the second quarter
was 41.1 million riyals, against 31.1 million riyals for the corresponding quarter of the previous year, with growth ratio of 31%, and against 36.5 million riyals for the previous quarter with growth ratio of 12.7%.
2.The gross profit for the second quarter was 82.0 million riyals, against 64.3 million riyals for the corresponding quarter of previous year, with growth ratio of 27.6%.
3.The operating profit for the second quarter was 40.1 million riyals, against 32 million riyals for the corresponding quarter of the previous year, with growth ratio of 25.3%.
4.Net profit for the six-month period was 77.6 million riyals, against 63.1 million riyals for the same period previous year, with growth ratio of 23%.
5.Earnings per share for the six-month period was SAR 3.45, against SAR 2.80 for the same period previous year.
6.Gross profit for the six-month period was 159.4 million riyals, against 119.6 million riyals for the same period previous year, with growth ratio of 33.3%.
7.The operating profit for the six-month period was 80.4 million riyals, against 60.3 million riyals for the same period previous year, with growth ratio of 33.4%.
8.The reason behind the increase in net profit in the second quarter of 2011 against second quarter 2010 was sales growth of 20.1% due to the opening of new branches and the organic growth of existing branches as well as continuous improvements of margins through incentives and rebates from suppliers.
In addition to that, the lease agreement of Dammam mall started on January 1, 2011.
Certain comparative figures have been reclassified to be consistent with the presentation of the current period.
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