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Zoujaj announces its Audited financial results

24/02/2013 07:45 AST

The National Company For Glass Industries (Zoujaj) announces its audited financial results for the year ended 31st December 2012 as follows:

1.The net profit for year 2012 amounted to SAR 43.6 million, as compared to previous year SAR 81.1 million, an decrease of (46.2 %)

2.The Earnings per share for year 2012 were SAR 1.46 as compared to SAR 2.70 of previous year.

3.The gross profit for year 2012amounted to SAR 41.8 million as compared to the previous year SAR 43.6 million, a decrease of (4.1%)

4.The operating profit for year 2012 amounted to SAR 29.3 million, as compared to previous year SAR 32.4 million, a decrease of (9.6%)

5.The reason for the decrease in the Net Profit for period ended 2012 as compared with the last year same period, mainly due to decrease in the average selling price of associated companies operating in float glass as a result of market competition, asset impairment loss of associated company, and related cost incurred by associated company. Regarding the decrease in the gross margin and operating profit for period ended 2012 as compared with the same period last year, due to decrease in glass container sales volume as a result of low finished goods inventory transfer from year 2011

6.We reclassified some of the comparison figures for the previous year to match with the financial figures of the current year.

Tadawul

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1.For the fourth quarter ended 31st December

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1.For the third quarter ended 30th September

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