ANAAM Announces 52.1% Increase in the 3Q 2012 Net Profit

09/10/2012 15:15 AST

Anaam International Holding Group (ANAAM) announced its interim consolidated financial results for the period ended September 30, 2012 as follows:

Net profit for Q3 2012 is recorded as SR 7 million compared to SR 4.6 million for the same period of 2011, an increase of 52.1%, compared to net profit for Q2 2012 of SR 1.7 million it showed an increase of 311.7%. Net profit for the nine months period reached to SR 9.1 million compared to SR 8 million for same period of 2011, surging 13.8%.

Gross profit for Q3 2012 is SR 14.2 million compared to SR 9.2 million for the same period of 2011, an increase of 54.3%. Gross profit for the nine months amounted to SR 30.9 million compared to SR 20.5 million for the same period of 2011, an increase of 50.7%.

Operating profit for Q3 2012 is SR 6.1 million compared to SR 3.6 million for the same period of 2011, an increase of 69.4%. Nine months operating profit with an increase of 75% reached to SR 8.4 million compared to SR 4.8 million for the same period of 2011.

Earnings per share is SR 0.83 (for the nine months) compared to SR 0.73 for the same period of 2011.

The company said the increase in the profit is mainly due to increase in Agriculture production and its selling prices in addition to increase in selling prices of food division.

On 12/9/2012 Anaam Group received Capital Market Authority approval to increase its capital by SR 87 million through a Rights Issue to registered shareholders as of the day of Anaam Extra Ordinary General Assembly scheduled for 10/10/2012.

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