Oct 18 2011 |
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National Industrialization Company (TASNEE) reports interim consolidated financial result for the period ended September 30, 2011 (Nine months)
1.The net income for the third quarter 2011 amounts to SR 725 Million, an increase of 94.4% compared to SR 373 Million for the same period last year and an increase of 22% compared to previous quarter 2011 (SR 594.2 Million ).
2. Gross income for the third quarter was SR 1986.1 Million, an increase of 77.8% compared to same quarter last year (SR 1116.9 Million).
3. Income from operations for the third quarter was SR 1585.5 Million, an increase of 104% compared to same period last year (SR 777.2 Million).
4. the net income for the Nine Months ended September 30, 2011 was SR 1899.2 Million, an increase of 74% compared to the same period last year (SR 1091.2 Million)
5. Earnings per share during the Nine Months ended September 30, 2011 amounts to SR 3.41 compared to SR 1.96 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 Nine Months ended September 30, 2011 was SR 5422.7 Million, an increase of 54.7% compared to the same period last year (SR 3506.2 Million).
7. Income from operations for the Nine Months ended September 30, 2011 was SR 4248.3 Million, an increase of 70.9% compared to the same period last year (SR 2485.2 Million)
8. the growth of income for the third quarter and the Nine months ended September 30, 2011 compared to the same period last year 2010 is due to improvement of subsidiaries' revenues (selling prices) and compared to the second quarter 2011 is mainly to the increase of sales volume and improvement in prices of Titanium Dioxide. Some figures of income statement for 2010 have been reclassified.
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