Feb 19 2012
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Herfy Food Services Company (Herfy Foods) Announces Its Annual Financial Results for the period ended 31/12/2011
Herfy Food Services Company (HERFY Foods) announces its annual financial results for the period ended 31/12/2011:
1.Net profit amounted to SR146.6M compared to SR124.3M for the previous year, with an increase of 17.9%.
2.Earnings per share were SR 4.9 compared to SR4.1 for the previous year(taking into consideration that Earnings per share for the previous year 2010 has been recalculated according to the number of shares as of 31/12/2011 which was 30 M shares).
3.Gross Profit amounted to SR 226.2M compared to SR192.9M for the previous year, with an increase of 17.3%.
4.Operating Profit amounted to SR 148.3M compared to SR123.7M during the previous year, with an increase of 19.9%.
5.The above positive results for the year 2011 are due to the increase in sales which reached SR708.6M compared to SR 579.9M for the same period during the previous year 2010, with an increase of 22.2%, in addition to the increase in the operating efficiency of the companys different sectors through controlling the cost factors and limiting the effect of the price increase of raw material ,as well as the new restaurants openings, where the company has opened 20 new restaurants during the financial year 2011.and the first branch of Herfy Cafe & Grill restaurant during the fourth quarter of the year 2011.
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