Jul 06 2011 |
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Fitaihi Holding Group announces its interim consolidated financial results for the period ended june 30, 2011 (six months) as follows
Fitaihi Holding Group announces its interim consolidated financial results for the period ended June 30, 2011 (Six Months) as follows:1. The net income for Q2 is SAR 9.8 Million compared to SAR 2.1 Million for the same period of 2010, representing an increase of 366.7%, and a decrease of 25.76% compared to the net income for Q1 2011 of SAR 13.2 Million.
2. The gross profit for Q2 is SAR 31.67 Million compared to SAR 20.1 Million for the same period of 2010, representing an increase of 57.56%.
3. The operating profit for Q2 is 11.28 Million compared to SAR 4.53 Million for the same period of 2010, representing an increase of 149%.
4. The net income (for the six months) is SAR 22.99 Million compared to SAR 14.78 Million for same period of 2010, representing an increase of 55.55%.
5. The earnings per share is SAR 0.46 (for the first 6 months) compared to SAR 0.30 for the same period of 2010.
6. The Gross profit (for the six months) is SAR 62.15 Million compared to SAR 48 Million for the same period of 2010, representing an increase of 29.48%.
7. The Operating profit (for the six months) is SAR 26.89 Million compared to SAR 18.92 Million for the same period of 2010, representing an increase of 42.12%.
8. The main reason for growth in net profit for first half of 2011, compared to the same period of 2010, is the sales increase of 53.96 %, which resulted from the improved sales of the existing and newly opened branches.
Worth mentioning that the company succeeded in achieving an increase in the profits for the six months of the Year 2011, despite the decrease of the investments' revenues by 32.25% in the first half of the year 2011, compared to the same period of 2010.
The company re-classified some of the financial position items.
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