Wednesday, Jul 13, 2011
DUBAI (Zawya Dow Jones)--Saudi Pharmaceutical Industries and Medical Appliances Corp. (2070.SA), or Spimaco, said Wednesday its second-quarter net profit was 60.8 million Saudi riyals ($16.2 million), 41% higher than the SAR43.1 million it recorded in the same period last year.
The company attributed its performance to improved efficiency and higher dividends from investments in petrochemcial stocks in a statement it posted on the website of the Saudi borse.
Spimaco's shares closed unchanged at SAR39 Wednesday on the Saudi market.
-By Angus McDowall of Dow Jones; +971-4-446-1685, angus.mcdowall@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
13-07-11 1315GMT
