FIPCO announced the Annual financial results ended 31/12/2011

22/02/2012 12:50 AST

Filling & Packing Materials Mfg. Company announces the Annual financial results ended 31/12/2011

1. The net profit of SR 15.7 Million versus SR 21.6 Million for the previous year, with a decrease of 27% .

2. Earnings per share SR 1.37 versus SR 1.88 for the previous year.

3. The gross profit 32 Million SR versus SR 35.7 for the previous year, with a decrease of 10%.

4. The operating profit 18 Million SR versus 22.8 Million for the previous year, with a decrease of 21 %.

5. The reason for the decrease due to increase in the expenses especially in wages and salaries , the commitments of long term contracts with low prices and the increase in raw material prices comparing to last year, in addition the delete of some unused spare parts which affect the income statement of 2011.

6. Certain amounts in the previous period financial statements have been reclassified to conform with the current period presentation.


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