Taiba Holding announces its annual consolidated financial results for the year ended 31/12/2010

Taiba Holding announces its annual consolidated financial results for the year ended 31/12/2010: Net profit amounted to SR 92,098,036 compared to SR 61,113,684 for the previous year, an increase of 50.70%. Earnings per share reached SAR 0.61 compared to SR 0.41 for the previous year. Total profit amounted to SR 135,716,948 compared to SR 114,694,660 for the previous year, an increase of 18.33%. The net operating profit amounted to SR 82,036,312 compared to SR 53,037,319 with an increase of 54.68%. The increase in FY10 results for the previous year is mainly due to the following reasons: 5/1 Entering new projects of the Arab subsidiary (Arak) for tourist areas (Arak), the city city of Aramas and the city hotel Arak Inn. 5/2 Operating the wings of Taiba Arak owned by the company (subsidiary) Al-Aqiq for real estate development after the completion of the development and renovation work, which is managed by the Arab Company for Tourist Areas (Arak). 5/3 Increase in the rental income of the subsidiaries, whether for commercial stores or residential centers, especially Al-Majidi Housing Center owned by Al-Aqeeq Company and managed and operated by the Arab Company for Tourist Areas (Arak). 5.4 The decrease in some elements of activity costs, which contributed to the increase in the operating profit of the activity. Some comparative year figures were adjusted (2009) to reflect adjustments made in a subsidiary of Taiba Holding.