Kingdom Holding Company announces the interim consolidated financial results for the period ended 31/12/2012:
1.Q4 Net income was SR 209.6 million compared to the net income of SR 187.8 million for the same quarter in 2011, representing an increase of 11.6 %, and compared to the net income for the last quarter of SR 217.8 million, a decrease of 3.8%.
2.Q4 Gross profit was to SR 346.8 million compared to the same quarter in 2011 of SR 251.5 million, an increase of 37.9%.
3.Income from operations for Q4 was SR 290.6 million compared to SR 285 million for the Q4 in 2011, an increase of 2%.
4.Net income for the twelve months period amounts to SR 707.1 million compared to the net income of SR 639.6 million for the same period in 2011, an increase of 10.6%.
5.Earnings per share for the twelve months period, amounted to SR 0.19 compared to SR 0.17 for the same period in 2011. Note that the earnings per share computation for the two periods were made by dividing the number of current weighted average of outstanding shares by 3,706 million shares.
6.Gross profit for the twelve months period was SR 1,1145 million, compared to SR 1,133 million for the same period in 2011, an increase of 1.1%.
7.Income from operations for the twelve months period was SR 1,117.4 million, compared to SR 1,087.1 million for the same period in 2011, an increase of 2.78%.
8.The increase in net income for the current quarter compared to the same quarter last year is due to increase in income from real estate investments and decrease in finance charges despite the performance decline in associate companies.
9.The increase in net income for the current period compared to the same period last year is due to increase in income from real estate investments, gain on sale of certain hotels, increase in dividends income and decrease in general & administrative expenses.
10.The decrease in net income for the current quarter compared to the previous quarter is due to varying increases in all revenues offset by decrease in dividends income and an increase in general & administrative expenses.
11.Comparative figures of the same period last year were reclassified to be consistent with current figures.
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