Further to the companys announcement of its consolidated financial results for the period ending 30/06/2012 (six months), where it disclosed in paragraph (4) the realization of a net loss amounting to SAR 9.1 million during the six months, compared to a net profit amounting to SAR 10.9 million for the corresponding period of the previous year, the company states that the difference is due to the absence of sufficient revenues realized in the first six months of this year, as sale transactions during this period were limited to the sale of a land to the International Medical Center (IMC) worth SAR 22.8 million (announced on Tadawul on 01/04/2012) beside revenues realized by subsidiaries, while the company realized during the first six months of year 2011, revenues amounting to SAR 86.2 million resulting from the sale of land to Al Maarifa Al Akaria Company Ltd., jointly owned with the Saudi Real Estate Company (announced on Tadawul on 27 / 03/2011). The difference is due as well to the increased in zakat expenses from SAR 1.6 million for the first six months of year 2011, to SAR 7.9 million for the corresponding period of this year.
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