Jul 17 2011 |
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National Industrialization Company (TASNEE) reports interim consolidated financial result for the period ended June 30, 2011 (Six months)
1.The net income for the second quarter 2011 amounts to SR 594.2 Million, an increase of 54.2% compared to SR 385.4 Million for the same period last year and an increase of 2.4% compared to first quarter 2011 (SR 580 Million ).2. Gross income for the second quarter was SR 1846.6 Million, an increase of 49.7% compared to same quarter last year (SR 1233.5 Million).
3. Income from operations for the second quarter was SR 1453.1 Million, an increase of 70.6% compared to same period last year (SR 851.9 Million).
4. the net income for the Six Months ended June30, 2011 was SR 1174.2 Million, an increase of 63.5% compared to the same period last year (SR 718.2 Million)
5. Earnings per share during the Six Months ended June30, 2011 amounts to SR 2.11 compared to SR 1.29 for the same period last year, Earnings per share calculated for the fiscal period comparison based on the number of shares (557.4) million shares to show the impact of bonus shares, which was approved by the Extra-Ordinary General Assembly meeting on 4th April 2011.
6. The Gross income for the Six Months ended June30, 2011 was SR 3436.6 Million, an increase of 43.8% compared to the same period last year (SR 2389.3 Million).
7. Income from operations for the Six Months ended June 30, 2011 was SR 2662.8 Million, an increase of 55.9% compared to the same period last year (SR 1708 Million)
8. The growth of income for the second quarter and the six months ended June 30, 2011 compared to the same period last year 2010 is due to improvement of subsidiaries' revenues (quantities and selling prices) and compared to the first quarter 2011 is mainly to the increase of sales volume and improvement in prices. Some figures of income statement for 2010 have been reclassified.
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