Taiba Holding announces its interim consolidated financial results for the period ended 31/03/2013 (three months)

1 – Net profit for the first quarter of 2013 amounted to SR 73,065,089 compared to SAR 267,864,151 for the first quarter of the previous year 2012, a decrease of 72.72% compared to SR 42,381,215 for the fourth quarter of 2012, an increase of 72.40%. 2. Gross profit for the first quarter of 2013 amounted to SR 66,754,373 compared to SR 109,880,474 for the first quarter of the previous year 2012, a decrease of 39.25%. 3 – Net operating profit for the first quarter of 2013 amounted to SR 54,845,457 compared to SR 78,862,136 for the first quarter of the previous year 2012, a decrease of 30.45%. 4. Earnings per share for the three-month period from 01/01/2013 to 31/03/2013 amounted to SR 0.49 compared to SR 1.79 for the same period last year. 5. The main reason for the decrease in the results of the first quarter of 2013 from the first quarter of the year 2012 to the capital gains achieved and the results of the first quarter of 2012 resulting from the removal and sale of the properties of Arak and Al-Aqeeq – Aramas owned by the Arab Company for tourist areas Arak, as well as realizing the proceeds of the sale of residential land and part of the commercial land in a high-quality scheme owned by Al-Aqeeq Real Estate Development Company. 6. The increase in the results for the first quarter of the year 2013 compared to the fourth quarter of the previous year 2012 resulted in an increase in the return on investment of one of the subsidiary companies (industrial arm) as a result of the increase in the volume of investment and the revenues received from the said company, Eliminate the operating costs and administrative expenses of the quality assurance company that has been liquidated. 7. During the first quarter of 2013, other assets and assets of Afaq Al-Khawama Company (a subsidiary) were sold for liquidation with the sale amounting to SR 26,100,000. The liquidation resulted in a profit of SR 4,032,087 reflected in the consolidated financial statements of Taiba Holding Under profits from a subsidiary under liquidation in the statement of income for the period ended 31 March 2013.