BABTAIN announces audited financial results

26/02/2013 08:12 AST

AL-BABTAIN POWER & TELECOM CO. announces audited financial results ending on 31/12/2012:

1) The consolidated net income amounted to SR 78.3 million, an increase of 1.8 % compared to last year SR 76.9 Million.

2) Earnings per share for the year ended 31 December 2012 were SR 1.84 compared to SR 1.84 for the same period of last year, EPS for the same period last year has been calculated based on 41.9 million shares and Current period is based on 42.6 million shares.

3) Gross profit amounted to SR 134.1 million, representing a decline of 13.9% compared to the same period last year SR 155.8 million.

4) Operating profit amounted to SR 9.7 million, representing a decline of 87.7% compared to last year SR 79 million

5 The increasing in net profit during the year 2012, compared to 2011, referring to the increasing in sales revenue, other income and profits of re-evaluate of the assets in Babtain France. The reason for lower operating profit in 2012, compared to 2011, as a result of the composition of some provisions of our inventory and customers balances.

6 The Increased marketing expenses, general and administrative expenses of SR 47.5 million riyals compared with the previous year as a result of consolidation the financial statements of Al-Babtain France.

7 - The profits of revaluation of assets purchased in France recorded sum of SR 85.4 million has been dedicated work Deferred taxes to cope with potential future tax liabilities of SR 13.1 million.

8 The figure has been reclassified comparative to conform with the presentation in the financial statements for the current period.

Tadawul