SISCO announces its interim financial results

21/01/2013 14:40 AST

Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 31 December 2012 as follows:

1. Net profit in the fourth quarter reached SR 8,200,177 compared to net loss of SR (567,569) in the comparable quarter of 2011, and compared to net profit of SR 11,920,376 in the third quarter of 2012 with 31% decrease.

2.Gross profit in the fourth quarter reached SR 63,190,624 compared to SR 40,100,710 in the comparable quarter of 2011, with 58 % increase.

3.Operating profit in the fourth quarter reached SR 32,004,349 compared to SR 9,113,416 in the comparable quarter of 2011, with 251% increase.

4.Net profit for the twelve months ended 31/12/2012 reached SR 37,571,558 compared to net profit SR 11,041,117 for the same period of 2011 with 240% increase.

5.Earnings per share for the twelve months ended 31/12/2012 reached 0.55 compared to net profit per share of SR 0.16 in the comparable period of 2011.

6.Gross profit for the twelve months ended 31/12/2012 reached SR 217,331,299 compared to Gross profit of SR 163,335,015 in the comparable period of 2011, with 33% increase.

7.Operating profit for the twelve months ended 31/12/2012 reached SR 111,361,201 compared to operating profit of SR 59,182,036 in the comparable period of 2011, with 88% increase.

8.Net results for the fourth quarter compared to the similar quarter of last year, is higher due to improvement in operating results of most of the subsidiaries.

9.Net results for the current period compared to the similar periods of last year, is higher due to improvement in operating results of most of the subsidiaries.

10. Net results for the fourth quarter compared to the third quarter 2012, is lower due to slowdown in demand of production services of the subsidiaries

11.Certain of prior period amounts have been reclassified to conform with the presentation in the current period.

Tadawul