Almarai: announces results for H1/2013

Riyadh / SA. (ac) Almarai Company announced its interim consolidated financial results for the period ended 30 June 2013:

• For the second quarter ended 30 June 2013 Almarai generated a consolidated net profit amounting to 398,2 million SAR, an increase of 4,9 percent compared to the same period last year (379,5 million SAR) and an increase of 56,1 percent compared to the first quarter 2013 (255,1 million SAR).
• The total gross profit for the second quarter ended 30 June 2013 amounted to 1’034,5 million SAR, an increase of 12,2 percent compared to the same period last year (921,7 million SAR).
• The operating profit for the second quarter ended 30 June 2013 amounted to 484,0 million SAR, an increase of 11,4 percent compared to the same period last year (434,6 million SAR).
• The consolidated net profit for the first six months ended 30 June 2013 amounted to 653,3 million SAR, an increase of 5,1 percent compared to the same period last year (621,6 million SAR).
• The earnings per share (EPS) for the six months ended 30 June 2013 was 1,64 SAR compared to 1,56 SAR for the prior year.
• The total gross profit for the first six months ended 30 June 2013 amounted to 1’862,3 million SAR, an increase of 14,3 percent compared to the same period last year (1’629,0 million SAR).
• The operating profit for the first six months ended 30 June 2013 amounted to 784,8 million SAR, an increase of 7,9 percent compared to the same period last year (727,0 million SAR).
• Sales for the second quarter ended 30 June 2013 amounted to 2’873,9 million SAR, an increase of 13,9 percent compared to the same period last year (2’524,1 million SAR).
• Sales for the first six months ended 30 June 2013 amounted to 5’284,9 million SAR, an increase of 15,8 percent compared to the same period last year (4’564,5 million SAR).
• The reason for higher net profit in the second quarter 2013 compared to the same quarter last year is due to continued growth in our core business of dairy, juice and bakery.
• The reason for a higher net profit in the first six months of 2013 compared to the first six months of last year is due to the continued growth in our core business of dairy, juice and bakery across all geographical regions as well as the first time consolidation of IDJ in the second quarter of 2012.
• The reason for a higher net profit of the second quarter 2013 compared to the first quarter 2013 is due to revenue growth in conjunction with consumption seasonality.

Overall the company is satisfied with the gradual development of its investment plan that contributed in increasing production capacity to serve our valuable customers and leads to strong growth indicators of increased revenue of 15,8 percent and increased gross profit of 14,3 percent over the first six months of 2012.