BCI Announces Interim Financial Results for Period Ended 31.03.2013

21/04/2013 07:56 AST

BASIC CHEMICAL INDUSTRIES COMPANY ( BCI ) ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31.03.2013 (3 MONTHS) as follows:

1. The company's net profit during the Q1-2013 was SR 16.2 million compared to SR 17.5 million for the same quarter last year which is a decrease of 7.4% and compared to SR 16.3 million for the previous quarter which is a decrease of 0.6%.

2. The company's gross profit during the Q1-2013 was SR 46.5 million compared to SR 46.7 million for the same quarter last year which is a decrease of 0.4%.

3. The company's income from operation during the Q1-2013 was SR 27.7 million compared to SR 28.2 million for the same quarter last year which is a decrease of 1.8%.

4. The company's Earnings per share during 3 months was SR 0.59 compared to SR 0.64 for the same period last year.

5. The decrease in the first quarter 2013 compared to the same quarter last year is due to the increase on the profit share of the non-controlling interest compare with the share of the company from operating income.

6. The decrease in profit in the first quarter 2013 compared to the previous quarter is due to decrease in sales and increase in marketing and selling expenses.


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