Taiba Holding announces interim consolidated financial results for the period ended 31/03/2012 (three months)

Taiba Holding Company announces preliminary consolidated financial results for the period ended 31/03/2012: 1 – Net profit for the first quarter of 2012 amounted to SR 267,864,151 compared to SR 38,902,493 for the first quarter of the previous year, an increase of 588.55% compared to SR 76,959,446 for the fourth quarter of 2011, an increase of 248.06%. 2. Gross profit for the first quarter of 2012 amounted to SR 109,880,474 compared to SR 36,418,603 for the first quarter of the previous year, an increase of 201.72%. 3. Net operating profit (operating income) during the first quarter of 2012 amounted to SR 78,862,136 compared to SR 22,729,093 for the first quarter of the previous year, an increase of 246.97%. 4. Earnings per share for the three-month period from 01/01/2012 to 31/03/2012 amounted to SR 1.79 compared to SR 0.26 for the first quarter of the previous year. 5 – The main reason for the increase in the results of the first quarter of 2012 for the first quarter of 2011 and for the fourth quarter of 2011 as a result of capital gains from the removal and sale of real estate for Arak and Al-Aqeeq Company to remove the city city Aramas owned by the Arab Company for tourist areas, Realization of profits from unrealized gains arising from the sale of the two plots of land on which the City of Aramas was built to the Arab Company for Tourist Areas in 2008, as well as the returns of the sale of residential land and part of the commercial land in a high-quality, As well as increase operating revenues from the main activities of renting residential suites and hotels and leasing shops in commercial centers.