Kingdom Holding Company announces the interim consolidated financial results for the period ended 31/3/2013:
1.Q1 Net income was SR 110.1 million compared to the net income of SR 100.8 million for the same quarter in 2012, representing an increase of 9.2 %, and compared to the net income for the last quarter of SR 209.6 million, a decrease of 47.5%.
2.Q1 Gross profit was SR 225.1 million compared to the same quarter in 2012 of SR 274.8 million, a decrease of 18.1%.
3.Income from operations for Q1 was SR 192.9 million compared to SR 218.1 million for the Q1 in 2012, a decrease of 11.6%.
4.Earnings per share for the three months period, amounted to SR 0.03 compared to SR 0.03 for the same period in 2012.
5.The increase in net income for the current quarter compared to the same quarter last year is due to gain on investments, decrease in finance charges and reversal of impairment loss.
6.The decrease in net income for the current quarter compared to the previous quarter is due to income from real estate investments occurred during Q4 in 2012 and decrease in income from associates despite the increase on the gain on investments and dividends income during current quarter.
7.Comparative figures of the same period last year were reclassified to be consistent with current figures.
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