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Full Announcement

NADEC Co. Announces the interim financial results for the period ending on 30-09-2014 (nine months) - 2014/10/22

Increase in the sales revenue of the dairy and foods processing sector associated with a decrease in cost of sales, financing charges and Zakat provision despite the decrease in other income and the increase in S&D and G&A costs. On the other hand, the Agricultural sector ‘s performance has decreased compared to the same period

ELEMENT

CURRENT QUARTER

SIMILAR QUARTER FOR PREVIOUS YEAR

% CHANGES

PREVIOUS QUARTER

% CHANGES

NET PROFIT (LOSS)

34.4

33

% 4.2

28

% 22.9

EARNING PER SHARE

0.49

0.47

GROSS PROFIT (LOSS)

202.1

189.4

%6.7

209.5

%3.6

OPERATIONAL PROFIT

48.7

41.5

%17.3

34.6

%41



ELEMENT

CURRENT PERIOD

SIMILAR PERIOD FOR PREVIOUS YEAR

% CHANGE

NET PROFIT (LOSS)

87.2

85.4

%2.1

GROSS PROFIT (LOSS)

593.3

536.2

%10.7

OPERATIONAL PROFIT

117.7

105.5

%10.7

EARNING PER SHARE

1.25

1.22

 



All figures are in (Millions) Saudi Arabia, Riyals


ELEMENT

EXPLAINATION

REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR

Increase in the sales revenue of the dairy and foods processing sector associated with a decrease in cost of sales, financing charges and Zakat provision despite the decrease in other income and the increase in S&D and G&A costs. On the other hand, the Agricultural sector ‘s performance has decreased compared to the same period

REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER

Increase in sales revenue of the dairy and foods processing sector associated with a decrease in cost of sales, and a decrease in Zakat provision despite the increase in S&D, G&A and financing charges compared to the same period of last year. On the other hand, the Agricultural sector ‘s performance has decreased compared to the same period.

REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER

Decrease in cost of sales, S&D , G&A cost and financial charges. On the other hand, the zakat provision has increased while other income has decreased compared to the previous quarter.

RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS

Some prior period comparatives have been reclassified in the balance sheet without affecting the net income or shareholders’ equity of the period of comparison

OTHER NOTES

The reported earnings per share has been recalculated for the similar quarter of last year reflecting the bonus shares that has been approved by the Extra ordinary general assembly on 19th March 2014.