Sahara Petrochemicals announces the interim financial results
for the period ended 31 December 2011. (Twelve months) as
follows:
1. Net profit during fourth quarter amounted to SR 5 million
compared to SR 43.65 million for the same quarter last year
with a decrease of 89% and compared to SR 97. 63 million for
the previous quarter with a decrease of 95%.
2. Gross profit during fourth quarter amounted to SR 32.1
million and there were no profits attained for the same
period last year as Al Waha Petrochemicals Companys plant, an
affiliate of Sahara, was under experimental operation.
3. Operating profit during fourth quarter amounted to SR 8.88
million compared to a loss of SR 3.63 million for the same
quarter last year.
4. Net profit during twelve months amounted to SR 411.5
million compared to SR 329.1 million for the same period last
year with an increase of 25%
5. Earnings per share during twelve months amounted to SR
1.35 compared to SR 1.13 for the same period last year with
an increase of 19%. The earnings per share has been adjusted
retroactively to account for the effect of the capital
increase from (2,925,300,000) Two Thousand and Nine Hundred
Twenty Five Million and Three Thousand Saudi Riyals to
(4,387,950,000) Four Thousand and Three Hundred Eighty Seven
Million and Nine Hundred Fifty Thousand Saudi Riyals through
rights issue offering which was approved by the 3rd
Extraordinary general assembly meeting held on Tuesday
04/01/1433 H Corresponding 29/11/2011 G.
6. Gross profit during twelve months amounted to SR 240
million and there were no profits attained during the same
period last year as Al Waha Petrochemicals Companys plant, an
affiliate of Sahara, was under experimental operation.
7. Operating profit during twelve months amounted to SR 167.6
million compared to a loss of SR 11 million for the same
period last year. (Continuous)
Regards,
Public Relations Department
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