Almarai: announces interim results for H1/2012

Riyadh / SA. (ac) Almarai Company announced its interim consolidated financial results for the period ended 30 June 2012:

  1. For the second quarter ended 30 June 2012 Almarai generated a consolidated net profit amounting to 379,5 million SAR, an increase of 8,7 percent compared to the same period last year (349,3 million SAR) and an increase of 56,7 percent compared to the first quarter 2012 (242,1 million SAR).
  2. The total gross profit for the second quarter ended 30 June 2012 amounted to 921,7 million SAR, an increase of 18,7 percent compared to the same period last year (776,8 million SAR).
  3. The operating profit for the second quarter ended 30 June 2012 amounted to 434,6 million SAR, an increase of 7,1 percent compared to the same period last year (405,8 million SAR).
  4. The consolidated net profit for the first six months ended 30 June 2012 amounted to 621,6 million SAR, an increase of 6,4 percent compared to the same period last year (584,5 million SAR).
  5. The earnings per share (EPS) for the six months ended 30 June 2012 was 1,55 SAR compared to 1,46 SAR for the prior year. Note that the EPS calculation based of 400 million shares what was approve in the extraordinary general assembly meeting on 02 of April 2012.
  6. The total gross profit for the first six months ended 30 June 2012 amounted to 1’629,0 million SAR, an increase of 15,5 percent compared to the same period last year (SAR 1’411,0 million).
  7. The operating profit for the first six months ended 30 June 2012 amounted to 727,0 million SAR, an increase of 4,3 percent compared to the same period last year (697,2 million SAR). (Continue)
  8. Turnover for the second quarter ended 30 June 2012 amounted to 2’524,1 million SAR, an increase of 25,4 percent compared to the same period last year (2’012,9 million SAR).
  9. Turnover for the first six months ended 30 June 2012 amounted to 4’564,5 million SAR, an increase of 21,5 percent compared to the same period last year (3’756,4 million SAR).
  10. The reason for sales growth during the quarter relative to the same period last year is sales growth in all sectors, especially bakery and poultry due to further product development and continuous improvement of services to our customers.

In addition to organic growth, Almarai has fully consolidated IDJ for the first time as a result of Almarai now holding a majority shareholding following the increase of share capital of IDJ (refer announcement dated 28th March 2012). Sales have increased by 164,6 million SAR as a result of this first time consolidation.

The reason for the growth of sales and profits of the second quarter compared to first quarter of this year is the reasons mentioned above as well as the seasonal impact experience every year. Overall, Almarai is satisfied with the growth indicators (recording an increase of sales of 17 percent in the quarter compared to the same period last year), the business development and performance in the quarter.