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SAVOLA GROUP ANNOUNCES ITS INTERIM CONSILDATED FINANCIAL RESULTS FOR THE PERIOD ENDED 31 DEC. 2012 (TWELVE MONTHS)
2013-01-16 (1434-03-04 )      09:49:28
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Savola announces its interim consolidated financial results for the year ended 31 Dec. 2012 as follows:
1) For 4th quarter ended 31 Dec. 2012 Savola achieved net income of SR 413.4 M, decrease of 17% compared to same quarter last year SR 498.6 M and increase of 2% compared to third quarter 2012 SR 405.2 M.
2) Gross profit for 4th quarter ended 31 Dec. 2012 amounted to SR 1.41 B, increase of 21.6% compared to same quarter last year SR 1.16 B.
3) Operating profit for 4th quarter ended 31 Dec. 2012 amounted to SR 792.2 M, increase of 32.3% compared to same quarter last year SR 598.9 M
4) Net income for twelve months ended 31 Dec. 2012 amounted to SR 1.4 B, increase of 16.7% compared to last year SR 1.2 B
5) Earnings per share for the twelve months ended 31 Dec. 2012 were SR 2.80, as compared to SR 2.40 for last year.
6) Gross profit for twelve months ended 31 Dec. 2012 amounted to SR 4.76 B, increase of 19.9% compared to last year SR 3.97 B
7) Operating profit for twelve months ended 31 Dec. 2012 amounted to SR 2.45 B, increase of 36.1% compared to last year SR 1.80 B
8) The decrease in the Group net income for 4th Q 2012 compared to the same quarter last year is attributed mainly to the capital gain of SR 153 M resulting from sale of two lands during Q4 2011.
9) The increase in the Group profits for the period (twelve month) of 2012 compared to the same period of last year is attributed mainly to the good performance of overseas operations of Foods Sector and the continued growth of revenues, which reached SR 27.4 B compared to SR 25.2 B for the last year, increase market share in Retail Sector and capital gain of SR 47 M from sale of Emaar Economic City shares.
10) The increase in the Group profits for 4th Q 2012 compared to the previous quarter of the same year is attributed to the reasons mentioned above as well as the seasonal impact experience every year during this quarter.
(Continued)

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