SIECO Announces Annual Financial Results

17/02/2013 08:45 AST

SAUDI INDUSTRIAL EXPORT COMPANY - SIECO ANNOUNCES ITS FINANCIAL RESULTS ENDING AT 31/12/2012

1- The company's net profit is SR 2.8 million compared to profit SR 9.3 million for last year with a decrease of 69.9% .

2- The earnings per share is SR 0.26 compared to earning SR 0.86 For the last year .

3- The company's gross profit is SR 6.9 million compared to SR 13.5 million profit for the last year with a decrease of 48.9% .

4- The company's operating profit is SR 2.6 million compared to profit SR 8.8 million for the last year with a decrease of 70.5% .

5- The decrease in sales and profit during 2012 is due to decrease in export volume of the raw material for fertilizer manufacturing to China market , In addition to fallen profit margin due to high supply and low demand, despite the export of new products to Ethiopians market and increase of food distribution in local market .


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