nadec menu

Investors

NADEC announces its interim consolidated financial results for the period ended September 30, 2011 (nine months): - 16/10/2011

1. The net income for the quarter ended September 30, 2011 was SR 30.1 million compared to the net income of SR 0.7 million for the same quarter last year representing an increase of 4200%, and compared to the net income for the previous quarter of SR 19.5 million representing a increase of 54 %

2. The gross profit for the quarter ended September 30, 2011 amounted to SR 141.3 million compared to the same quarter last year of SR 113,2 million representing an increase of 25 %

3. The income from operations for the quarter ended September 30, 2011 amounted to SR 37 million compared to SR 9.5 million for the same quarter last year, an increase of 289 %

4. The net income for the nine months ended September 30, 2011 amounted to SR 70.1 million compared to the same period last year of SR 24.4 million representing an increase of 187 %

5. The earnings per share for the nine months period ended September 30, 2011 amounted to SR 1.17 compared to SR 0.41 for the same period last year, an increase of 185 %

6. The gross profit for the nine months period amounted to SR 417 million compared to SR 366 million for the same period last year , an increase of 14 %

7. The income from operations for the nine months amounted to SR 87.2 million compared to SR 44.1 million for the same period last year , an increase of 98 %

8. Sales revenue for the nine months ended September 30, 2011 amounted to SR 1,187 million compared to the same period last year of SR 1,078 million representing an increase of 10 %, while sales revenue for the third quarter amounted to SR 395.4 million compared to SR 347.7 for the same period last year, an increase of 14 %

9. The increase in net income for the nine months ended September 30, 2011 and the third quarter compared to the same period last year is attributable to:

-The increase in sales revenue and the improvement in business performance of the agricultural sector compared to the same period last year. On the other hand, despite the continued commodity prices inflation (mainly feeding materials and packaging materials), the company was able to reduce its effect by cost control programs, improving efficiency and assets utilization.