Knowledge Economic City Company announces its consolidated interim financial results for the period ended 30/09/2012:
1.Net profit for the third quarter amounted to SAR 9.6 million, compared to net loss amounting to SAR 9.9 million for the corresponding quarter of the previous year, and compared to a net loss amounting to SAR 0.7 million for the previous quarter.
2.Gross profit for the third quarter amounted to SAR 23.9 million, while no gross profit was realized during the corresponding quarter of the previous year.
3.Operating profit for the third quarter amounted to SAR 12 million, compared to a net loss amounting to SAR 12 million for the corresponding quarter of the previous year.
4.Net profit for the nine months amounted to SAR 0.5 million, compared to SAR 0.9 million for the corresponding period of the previous year, a 44.5% decrease.
5.Profit per share for the nine months amounted to SAR 0.002, compared to SAR 0.003 for the corresponding period of the previous year.
6.Gross profit for the nine months amounted to SAR 29 million, compared to SAR 31.6 million for the corresponding period of the previous year, an 8.4% decrease.
7.Operating loss for the nine months amounted to SAR 5.8 million, compared to SAR 5.9 million for the corresponding period of the previous year, a 1.6% decrease.
8.Increase in the companys net profit during the third quarter compared to the corresponding quarter of the previous year is due to the realization of operating profits which is initially due to the realization of revenues amounting to SAR 57 million, while the decrease in the companys net profit during the nine months period compared to the corresponding period of the previous year is due to the zakat expense amounting to SAR 14.9 million, in addition to the minority interest amounting to SAR 0.9 million, whereas increase in the companys net profit during the third quarter compared to the previous quarter is due to the absence of sufficient revenues realized in the second quarter of the year.
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