Abdullah Othaim Markets announces interim financial results for the period ended 30/6/2012
1. Net profit for the second quarter was 36.8 million riyals, against 41.1 million riyals for the corresponding quarter of the previous year, with decline ratio of 10.6%, and against 33.9 million riyals for the previous quarter with growth ratio of 8.6%.
2. The gross profit for the second quarter was 73.4 million riyals, against 82 million riyals for the corresponding quarter of previous year, with decline ratio of 10.5%.
3. The operating profit for the second quarter was 35.5 million riyals, against 43.6 million riyals for the corresponding quarter of the previous year, with decline ratio of 18.7%.
4. Net profit for the six-month period was 70.6 million riyals, against 77.6 million riyals for the same period previous year, with decline ratio of 9%.
5. Earnings per share for the six-month period was SAR 3.14, against SAR 3.45 for the same period previous year.
6. Gross profit for the six-month period was 145.4 million riyals, against 159.4 million riyals for the same period previous year, with decline ratio of 8.8%.
7. The operating profit for the six-month period was 67.5 million riyals, against 86.8 million riyals for the same period previous year, with decline ratio of 22.2%.
8. Decline in net profit in the second quarter and first half of 2012 against the same periods of 2011 was due to the increase in operating cost, particularly staff cost and new stores pre-operating cost which adversely affected the gross profit.
Certain comparative figures have been reclassified to be consistent with the presentation of the current period
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