KEC announces its consolidated interim financial results

21/04/2013 09:14 AST

Knowledge Economic City Company - KEC announces its consolidated interim financial results for the period ended 31/03/2013:

1.Net loss during the first quarter amounted to SAR 8.1 million, compared to SAR 8.3 million for the corresponding quarter of the previous year, a 2.4% decrease, and compared to SAR 27 million for the previous quarter, a 70% decrease.

2.Gross profit during the first quarter amounted to SAR 2.5 million, compared to SAR 1.7 million for the corresponding quarter of the previous year, a 47% increase.

3.Operating loss during the first quarter amounted to SAR 5.9 million, compared to SAR 8.4 million for the corresponding quarter of the previous year, a 29.7% decrease.

4.Loss per share during the three months amounted to SAR 0.02, compared to SAR 0.02 for the corresponding period of the previous year.

5.Decrease in the companys loss during the first quarter compared to the corresponding quarter of the previous year is mainly due to the increase in in gross profit and decrease in operating expenses despite the increase in the zakat expense

6.Decrease in the companys loss during the first quarter compared to the previous quarter is mainly due to the decrease in operating expenses and zakat expenses despite the decrease in non-operating income in the first quarter


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