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Full Announcement

NADEC announces its interim consolidated financial results for the period ended 30-06-2012 (Six months) - 2012/07/18

1. The net income for the second quarter amounted to SR 27.2 million compared to the net income of SR 19.5 million for the same quarter last year , an increase of 39.5%, and compared to the net income for the previous quarter of SR 21.5 million , an increase of 26.5% 

1. The net income for the second quarter amounted to SR 27.2 million compared to the net income of SR 19.5 million for the same quarter last year , an increase of 39.5%, and compared to the net income for the previous quarter of SR 21.5 million , an increase of 26.5% 
2. The gross profit for the second quarter amounted to SR 172.2 million compared to the same quarter last year of SR 151.6 million representing an increase of 13.6% 
3. The income from operations for the second quarter amounted to SR 37.5 million compared to SR 25 million for the same quarter last year, an increase of 50% 
4. The net income for the six months ended Jun 30, 2011 amounted to SR 48.7 million compared to the same period last year of SR 40 million representing an increase of 21.8 % 
5. The earnings per share for six months amounted to SR0 .81 compared to SR 0.67 for the same period last year 
6. The gross profit for the six months period amounted to SR 311.7 million compared to SR 275.8 million for the same period last year , an increase of 13 % 
7. The income from operations for the six months amounted to SR 59.8 million compared to SR 50.3 million for the same period last year , an increase of 18.9 % 
8. Sales revenue for the second quarter amounted to SR 494.6 million compared to the same period last year of SR 444.6 million, an increase of 11.3%, while sales revenue for six months amounted 862.7 million compared to 791.5 million for the same period last year an increase of 9% 
9. The increase in net income for the second quarter and six months 2012 is attributable to: 
-The increase in sales revenue of the dairy and foods manufacturing division compared to the same period last year as a result of successful marketing & sales programs the company adopted recently, despite the increase in sales, distribution and administration expenses due to the expansion in sales operations. The reason of the growth in Sales revenue and profit the second quarter compared to first quarter of this year is attributed mainly to the seasonality of consumption.