Maadaniyah Announces the Interim Financial Results

21/01/2013 08:53 AST

National Metal Manufacturing & Casting Company (Maadaniyah) announces its interim financial results for the period ended 31 December 2012 (twelve months) as follows:

1-Net Loss during the 4th quarter ended 31 December 2012 is SAR 1.88 million compared to SAR 1.59 million for the same quarter last year, an increase of 18% and compared to Net Profit of SAR 1.84 million for the previous quarter.

2-Gross Profit for the 4th quarter is SAR 5.32 million compared to SAR 5.80 million for the corresponding quarter last year, a decrease of 8%.

3-Operating Loss during the 4th quarter is SAR 0.98 million compared to SAR 0.85 million for the corresponding quarter last year, an increase of 15%.

4-Net Profit for the twelve months is SAR 5.88 million compared to SAR 3.19 million for the corresponding period last year, an increase of 84%.

5-Earning per share (EPS) for the twelve months is SAR 0.21 compared to SAR 0.11 for the corresponding period last year. (Earning per share for the twelve months ended 31 December 2011 was recalculated to reflect the increase in the companys share capital from 25,556,445 shares to 28,112,089 shares which was approved during the General Assembly Meeting on April 24, 2012)

6-Gross Profit for the twelve months is SAR 35.41 million compared to SAR 34.12 million for the corresponding period last year, an increase of 4%.

7-Operating Profit for the twelve months is SAR 9.86 million compared to SAR 8.45 million for the same period last year, an increase of 17%.

8-The reasons for the increase in the Net Loss during the 4th quarter 2012 compared to the same quarter last year is mainly due to decrease in sales and other income.

9-The main reason for the net loss during 4th quarter compare to the Net Profit during the previous quarter is decrease sales.

10-The reasons for the increase in the Net Profit for the twelve months compared to the Net Profit during the same period last year are increase in sales, reduction in expenses, increase in other income and reduction in zakat due to payment of additional zakat for previous years during 2011.

Tadawul