JEDDAH: The Anaam Holding Group has announced a net profit of SR1.1 million for the second quarter of 2011. This represents a decrease of 78 percent from SR4.9 million during the same period of last year, according to a company statement posted on Tadawul website.
The latest figure is also a decrease of 50 percent from the net profit of SR2.2 million posted for the first quarter of 2011. The company said gross profit for Q2, 2011 rose 55 percent to SR6.5 million from SR4.2 million for the same period of 2010.
The operating profit for Q2, 2011 is 1.1 million. This is a 416 percent increase from SR213,000 posted for the same period last year.
The company's net profit (for the six months) dropped 35 percent to SR3.3 million from SR5.1 million for same period of 2010.
Earnings per share is SR0.30 (for the first six months) compared to SR0.47 for the same period of 2010.
Gross profit (for the six months) is SR11.3 million compared to SR6.3 million for the same period of 2010, representing an increase of 79 percent, according to a statement.
The operating profit (for the six months) is SR1.2 million compared to a loss of SR1.2 million for the same period of 2010.
The decrease in profit for the first half of 2011 compared to the same period of 2010 is mainly due to gain on sale of investments of SR5.2 million in the first six month of 2010. The decrease in profit during Q2 compared to Q1 of 2011 is due to gain on sale of fixed assets of SR2.8 million in Q1 of 2011.
However, the increase in gross profit is due to increase in sales by 104 percent compared to the same period last year, which affected positively in increasing of operating profit by 416 percent in Q2 of 2011, compared to Q2 of 2010.
© Arab News 2011
