Taiba Holding announces its interim consolidated financial statements for the period ended 30/06/2011 (six months)

Net profit for the second quarter of 2011 amounted to SR 32,240,008 compared to SR 16,535,640 for the second quarter of the previous year 2010, an increase of 94.97% compared to SR 38,902,493 for the first quarter of 2011, a decrease of 17.13%. Gross profit for the second quarter of 2011 amounted to SR 45,908,402 compared to SR 20,204,527 for the second quarter of the previous year 2010, an increase of 127.22%. Net profit for the second quarter of 2011 amounted to SR 34,755,827 compared to SR 8,958,353 for the second quarter of the previous year 2010, an increase of 287.97%. Net profit for the six month period ended June 30, 2011 amounted to SR 71,142,499 compared to SAR 30,872,654 for the same period last year, an increase of 130.44%. The earnings per share for the six months from 1/1/2011 to 30/06/2011 amounted to SR 0.47 compared to SR 0.21 for the same period last year. The total profit during the six months ended 30/06/2011 amounted to SR 82,489,053 compared to SR 39,747,524 for the same period of the previous year 2010 with an increase of 107.53%. Net profit for the six month period ended June 30, 2011 amounted to SR 57,776,042 compared to SR 18,958,661 for the same period last year, an increase of 204.75%. The increase in Q2 2011 results from the second quarter of 2010 and the first six months of this year is attributed to the improvement in occupancy rates in hotels and residential centers and the increase in leasing revenues in commercial centers. The results of the previous quarter included other revenues resulting from the good collection of receivables in some quarters.