Al-Abdullatif Industrial Investment Company's earnings up 9%

18/07/2011 00:00 AST

Al-Abdullatif Industrial Investment Company has posted net profits of SR41.91 million for the second quarter of this year. This is an increase of nine percent compared to the SR38.44 million net profit for the second quarter of 2010, according to a statement posted on the Tadawul website.

It said the latest figure is also an increase of 18.3 percent, compared to the net profit of SR35.44 million for the previous quarter

The company reported total profits of SR59.84 million for the second quarter of 2011 compared to net profits of SR53.53 million for the second quarter of 2010 with increase of 11.8 percent.

It posted SR45.04 million operating profits for the second quarter of 2011 compared to operating profits of SR40.72 million for the second quarter of 2010 with increase of 10.6 percent.

It posted net profits of SR77.35 million for the six-month period of 2011 compared to SR79.95 million for the same period in 2010. This is a decrease of 3.2 percent.

The earning per share for the six months' period of 2011 is SR0.95 compared to earning per share of SR0.98 for the same period in 2010 .

The company posted a total profit of SR111.79 million for the first half of this year compared to total profits of SR109.07 million for the same period in 2010 with increase of 2.5 percent.

The company's operating profit for the first half is SR82.74 million. This is a reduction of two percent, compared to operating profit of SR84.47 million for the same period in 2010.

The profit in the second-quarter of this year rose due to increase in sales compared to the same period last year, according to the statement.

However, it said comparative profit for the six months period of the year with previous year, is lower, due to lower profits in the first quarter of the year.

Arab News