Tuesday, Apr 20, 2010
1. The net profit for the first quarter was 81.2 million Saudi Riyals against 29.2 million Saudi Riyals for the corresponding quarter of last year with a 178% increase and against 56.5 million Riyals for the previous quarter with 43.7% increase.
2. The gross profit for the first quarter was 148.8 million Saudi Riyals against 22.8 million Saudi Riyals for the corresponding quarter of last year with a 552.6% increase.
3. The operational profit for the first quarter was 134.6 million Saudi Riyals against 5.6 million Saudi Riyals for the corresponding quarter of the last year with 2,303% increase.
4. The earnings per share for the three months was 0 .24 Saudi Riyals against 0.09 Saudi Riyals for the corresponding period of the last year.
The main reason for the increase in the results of the first quarter compared with corresponding period of last year was mainly due to the improvement in the product prices and the increase in the profits margins.
It is worth mentioning that the company has previously announced the distribution of cash dividends to its shareholders for the year 2009 in the amount of 333 million Saudi Riyals at the rate of (1) Saudi Riyal per share which represents 10% of the company’s capital. The eligibility priority for these profits shall be for those shareholders who were registered on the end of the Tadawl on the day of the General assembly meeting.