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National Agriculture Development Co. announces the interim financial results for the period ending on 31-12-2013 (Twelve Months) - 19/01/2014

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CHANGE CURRENTPREVIOUS QUARTER% CHANGE PREVIOUS
Net profit (loss)14.814.33.533-55.15
Gross profit (loss)168.4148.713.25189.1-10.95
Operational profit (loss)24.720.122.8941.5-40.48
All figures are in (Thousands) Saudi Arabia, Riyals
ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Net profit (loss)100.295.74.7
Gross profit (loss)704.7636.510.71
Operational profit (loss)130.2122.26.55
Earning or loss per share, Riyals1.671.59
All figures are in (Thousands) Saudi Arabia, Riyals
ELEMENTEXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last yearIncrease in the sales revenue and decrease in cost of sales due to a better sales mix, in addition to the reduction of the Zakat provision. This is despite the decrease in the other revenue (loss) attributed to the sales of fixed assets during the quarter
Reasons of increase (decrease) for period compared with same period last yearIncrease in sales revenue and reduction of the Zakat provision despite the increase in some operating expenses and financing cost attributed to the company expansion as well as the decrease in other revenue
Reasons of increase (decrease) for quarter compared with previous quarterSeasonality of the consumption of dairy & foods products and seasonality of agricultural crops
Other notesThe company’s sales reveune grew by 11.6% for the twelve months period of the year 2013 compared to the same period of last year.