Taiba Holding announces its interim consolidated financial results for the period ended 30/09/2012 (nine months)

1 – Net profit for the third quarter of 2012 amounted to SR 52,120,516 compared to SR 90,393,134 for the third quarter of the previous year, a decrease of 42.34% compared to SAR 44,028,088 for the second quarter of 2012, an increase of 18.38%. 2 – Gross profit during the third quarter of 2012 amounted to SR 54,530,800 compared to SR 116,845,201 for the third quarter of the previous year 2011, a decrease of 53.33% 3 – Net operating profit during the third quarter of 2012 amounted to SR 44,851,868 compared to SR 87,525,877 for the third quarter of the previous year, a decrease of 48.76%. 4. Net profit for the nine months ended 30/09/2012 amounted to SR 366,929,690 compared to SR 159,861,250 for the same period of the previous year, an increase of 129.53%. 5 – Earnings per share for the nine months from 01/01/2012 to 30/09/2012 amounted to SR 2.45 compared to SR 1.07 for the same period last year. 6. Gross profit for the nine months ended 30/09/2012 amounted to SR 228,154,617 compared to SR 200,262,587 for the same period last year, an increase of 13.92%. 7. Net operating profit for the nine months ended 30/09/2012 amounted to SR 180,358,525 compared to SAR 143,950,412 for the same period of the previous year, an increase of 25.29%. 8 – The decrease in the results of the third quarter of 2012 is due to the third quarter of the year 2011 as a result of achieving capital returns of SR (59,771,080) for the third quarter of 2011 in return for a good collection to compensate for the expropriation of plot No. 5061 located in the central region of Medina for Expansion of the eastern square of the Prophet’s Mosque. 9 – The reason for the increase in the results of the first nine months of this year is due to capital gains from the removal and sale of properties of Arak and Al-Aqeeq – the two subsidiaries of Taeiba Holding – the removal of the Aramas Hotel owned by the Arab Company for tourist areas Arak, as well as revenues from the sale of residential land and part of Commercial land in a high-quality scheme owned by Al-Aqeeq Real Estate Development Company, in addition to increasing rates and percentages of occupancy in hotels and residential units and increase rental revenues in commercial centers. 10 – The reason for the increase in the results of the third quarter of 2012 for the second quarter of 2012 results in higher operating income and increased occupancy rates in hotels, residential and commercial centers. (( is over ))