NADEC announces its annual financial results for the Year ended December 31, 2012:
1.The net income amounted to SR 95.7 million compared to SR 91.3 million previous year, an increase of 5 %
2.The earnings per share amounted to SR 1.59 compared to SR 1.52 previous
3.The gross profit amounted to SR 636.5 million compared to SR 549.8 million for last year, an increase of 16 %
4.The income from operations amounted to SR 122.2 million compared to SR 120.4 million for last year, an increase of 1.5 %
5.The increase in net income for the fiscal year 2012 is attributed to:
Improved performance of the Dairy and foods manufacturing sector as sales grew by 16% vs. last year as a result of the successful sales and marketing programs that the company adopted recently, additionally other income from capital gains has also increased compared to last year
6. There are no notice , qualification , or emphasis of a matter mentioned in the external audit report
7. There is reclassification of the comparative figures between sales and other income
8. Total sales for the twelve months period amounted to SR 1.73 billion compared to SR 1.56 billion for the same period last year, an increase of 11%.
On the other hand , the company 's selling & distribution expenses have increased due to the expansion in the sales operations, additionally the general & administration expenses have also increased as a result of attracting highly talented and competent staff to support the company 's future objectives and ambitious growth plans
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.