ANAAM Announces the Interim Financial Results

21/01/2013 14:16 AST

Anaam International Holding Group announces its interim consolidated financial results for the period ended December 31, 2012 as follows:

1. Net profit for Q4 2012 is SR 592 thousand compared to SR 4 million for the same period of 2011, a decrease of 85.2%, compared to net profit for Q3 2012 of SR 7 million, a decrease of 91.5%.

2. Gross profit for Q4 2012 is SR 10.3 million compared to SR 4.5 million for the same period of 2011, an increase of 128.9%.

3. Operating profit for Q4 2012 is SR 298 thousand compared to a loss of SR 4.1 million for the same period of 2011 .

4. Net profit (for the twelve months) is SR 9.7 million compared to SR 11.9 million for same period of 2011, a decrease of 18.5%.

5. Earnings per share is SR 0.49 (for the twelve months) compared to SR 1.09 for the same period of 2011.

6. Gross profit (for the twelve months) is SR 41 million compared to SR 25 million for the same period of 2011, an increase of 64%.

7. Operating profit (for the twelve months) is SR 8.7 million compared to SR 627 thousand for the same period of 2011, an increase of 1287.5%.

8. Profit decrease for the Q4 2012 compared to the same period last year is mainly due to decrease in other income, allowances and adjustments .

9. Profit decrease for the twelve months of 2012 compared to the same period last year is also due to decrease in other income, allowances and adjustments .

10. Profit decrease for the Q4 compared to Q3 of 2012 is mainly due to decrease of sales by 20% during the Q4, increased provision for doubtful debts and decrease of other income .

11. Some comparative figures have been re-classified to improve presentation for the year 2011.

12. The General Assembly approved on7/11/2012 to increase the capital from 109 million to 196 million and increase the total number of shares from 10,900,000 shares to 19,600,000 shares

Tadawul