Saudi Cement Co. — Interim / Quarterly Report 2011

Saudi Cement Company announces Interim Financial Results for the period ended 31/03/2011 (three Months)

3030 · 13/04/2011 15:56:34 · Announcement #21248 · View on Saudi Exchange

Saudi Cement Company announces Interim Financial Results for the period ended 31/03/2011 (three Months)

Saudi Cement Company announces Interim Financial Results for the period ended 31/03/2011 (three months)

1- Net profit for the first quarter is SR 210.8 million compared to SR 176.6 million for the corresponding quarter of the previous year, an increase of 19.4 %, and compared to SR 152 million for the previous quarter, an increase of 38.7 %.

2- The gross profit for the first quarter is SR 243.7 million compared to SR 205.9 million for the corresponding quarter of previous year, an increase of 18.4 %.

3- The operating profit for the first quarter is SR 217.9 million compared to SR182.9 million for the corresponding quarter of previous year, an increase of 19.1 %.

4- Earnings per share for the three months are SR 1.38 compared to SR 1.15 for the corresponding period last year. Earnings per share have been calculated on the basis of the new number of shares after the increase in share capital.

5-The reasons for the increase of the profits for the first quarter in comparison with corresponding period of previous year are increased production efficiency from relying on new production lines that have achieved more stable operating efficiency, in addition to decrease in depreciation expenses, also the reason for the increase in profits in comparison with the previous quarter is growth in local demand.

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