KHC announces the interim consolidated financial results for the 12 months period ended December 31, 2011:
1. Net income for the fourth quarter was SR 187.8 million compared to the net income of SR 234.6 million for the same quarter in 2010, representing an decrease of 19.9%, and compared to the net income for the last quarter of 2011 of SR 197.7 million, representing an decrease of 5%.
2. Gross profit for the fourth quarter amounted to SR 257.5 million compared to the same quarter in 2010 of SR 413.2 million, representing a decrease of 37.7%.
3. Income from operations for the fourth quarter amounted to SR 168.4 million compared to SR 264.8 million for the same quarter in 2010, which represents a decrease of 36.4%.
4. Net income for the twelve month period amounts to SR 639.6 million compared to the net income of SR 605.2 million for the same period in 2010, which represents an increase of 5.7%
5. Earnings per share for the 12 months period, amounted to SR 0.17 compared to SR 0.16 for the same period in 2010. Note that the earnings per share computation for the two periods were made by using the number of current outstanding shares of 3,706 million shares.
6. Gross profit for the 12 months period was SR 1146.5 million, compared to SR 1375.5 million for the same period in 2010, which represents a decrease of 16.6%.
7. Income from operations for the 12 months period was SR 666.6 million, compared to SR 692 million for the same period in 2010, which represents a decrease of 3.7%.
8. The reason for the change in net income for the period is due to an increase in income from investments and dividends income. The change is also in part due to a decrease in performance from associates, and hotel operations due to a recent result in the Middle East.
9. The reason for the change in net income for the fourth quarter is due decrease in performance from associates, and hotel operations due to a recent result in the Middle East. The change is also in part due to an increase in income from investments and dividends income.
10. The reason for the decrease in revenue and costs and expenses is due to a change in reporting for our investments from the consolidated method to the equity method made in Trade Centre Co. during the second quarter of 2011 and Fairmont Raffles and Real Estate Investment Co., in the second quarter of 2010. Please note that some figures were adjusted for comparison periods
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