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Full Announcement

NADEC company announces the interim financial results for the period ending on 30-06-2013 (Six months) - 2013/07/18

The NADEC Group’s solid performance in the first half of 2013 is a true reflection of the company’s ambition of being the most successful food and dairy company in the Middle East and North Africa.

The company’s progressive growth strategy has resulted in a significant boost in sales revenue by up to 28% compared to the previous quarter. Learn more about the company’s robust performance for the past six months in the following report.

ELEMENT

CURRENT QUARTER

SIMILAR QUARTER FOR PREVIOUS YEAR

% CHANGE CURRENT

PREVIOUS QUARTER

% CHANGE PREVIOUS

NET PROFIT (LOSS)

30

27.2

10.3

22.3

34.5

GROSS PROFIT (LOSS)

185.2

172.2

7.6

161.9

14.4

OPERATIONAL PROFIT (LOSS)

37.7

37.5

0.53

26.3

43.4



ELEMENT

CURRENT PERIOD

SIMILAR PERIOD FOR PREVIOUS YEAR

% CHANGE

NET PROFIT (LOSS)

52.3

48.7

7.4

GROSS PROFIT (LOSS)

347.1

311.7

11.4

OPERATIONAL PROFIT (LOSS)

64

59.8

7

EARNING (LOSS) PER SHARE

0.87

0.81

0



All figures are in (Millions) Saudi Arabia, Riyals


ELEMENT

EXPLAINATION

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

Mainly due to the increase in sales revenue, in addition to the increase in other revenue (capital gain) and decrease in Zakat provision, despite the increase in commodities prices and also the increase in operating expenses as result of operations expansion

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

Increase in sales revenue by 12.2%, fuelled by the growth of the dairy and foods processing sector by 16% as a result of the successful marketing programmes adopted by the company

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

Increase in sales revenue by 28% compared to the previous quarter especially for dairy and juice products due to consumption seasonality, additionally the improvement in agricultural business is due to higher production

OTHER NOTES

Increase in sales revenue by 28% compared to the previous quarter especially for dairy and juice products due to consumption seasonality, additionally the improvement in agricultural business is due to higher production