Jazan Development Company announces the audited financial results

25/02/2013 09:02 AST

Jazan Development Company announces the audited financial results for the year ended 31/12/2012:

1) Net loss of SR 18,332,592 compared to SR 69,045,248 for the last year with a decrease of 73%.

2) Per share loss of SR 0.37 versus SR 1.38 last year.

3) Gross loss of SR 17,338,110 compared to a gross loss of 16,100,349 in the last year with an increase of 8%.

4) Operational loss of 32,985,478 compared to operating loss of SR 29,158,603 with an increase of 13%.

5) The reason for the decrease in the net loss in the year 2012 compared to same period of 2011 is due to the net loss from investments and other income of SR 39,086,645 in 2011 compared to a net profit from investments and other income of SR 15,052,886 in 2012.

6) The reason for the increase of gross and operating losses in 2012 compared to last year is due to the reduction in shrimp sales resulting from the slowdown of shrimp production in 2012.

7) Some figures of the year 2011 were adjusted for accurate comparison with 2012 figures.


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