JEDDAH: National Industrialization Company (Tasnee) has reported interim consolidated financial result for the period ended Dec. 31, 2011.
A company statement posted on the Tadawul website said the net income for the fourth quarter of 2011 amounted to SR544.1 million.
This is an increase of 42.7 percent compared to SR381.4 million for the same period last year and a decrease of 25 percent compared to previous quarter of 2011 (SR725 million).
The statement said gross income for the fourth quarter was SR1615.9 million, an increase of 56.5 percent compared to same quarter last year (SR1032.8 million).
Income from operations for the fourth quarter was SR1247.6 million, an increase of 68 percent compared to same period last year (SR742.8 million).
The net income for the 12 months ended Dec. 31, 2011 was SR2443.4 million, an increase of 65.9 percent compared to the same period last year (SR1472.6 million).
Earnings per share during the 12 months ended Dec. 31, 2011 amounts to SR4.38 compared to SR2.64 for the same period last year.
© Arab News 2012
