Taiba Holding announces its interim consolidated financial results for the period ended 30/06/2012 (six months)

1 – Net profit for the second quarter of 2012 amounted to SR 44,028,088 compared to SR 32,240,008 for the second quarter of the previous year, an increase of 36.56% compared to SR 267,864,151 for the first quarter of 2012, a decrease of 83.56%. 2. Gross profit for the second quarter of 2012 amounted to SR 64,176,550 compared to SR 45,908,402 for the second quarter of the previous year, an increase of 39.79%. 3 – Net profit for the second quarter of 2012 amounted to SR 56,644,524 compared to SR 34,755,828 for the second quarter of the previous year, an increase of 62.98%. 4. Net profit for the six months ended June 30, 2012 amounted to SR 311,892,239 compared to SR 71,142,499 for the same period last year, an increase of 338.40%. 5 – Earnings per share for the six months from 01/01/2012 to 30/06/2012 amounted to SR 2.08 compared to SR 0.47 for the same period last year. 6. Gross profit for the six month period ended June 30, 2012 amounted to SR 173,623,817 compared to SAR 82,489,053 for the same period last year, an increase of 110.48%. 7. Net profit for the six month period ended June 30, 2012 amounted to SR 135,506,660 compared to SR 57,776,042 for the same period last year, an increase of 134.54%. 8 – The increase in the results of the second quarter of 2012 is due to the second quarter of the previous year 2011 to increase operating profits in hotels, residential units and commercial centers owned by the two companies Agate and Arrak due to the high rates of return and increase occupancy rates. The reason for the increase in the results of the first six months of this As a result of capital gains from the divestment and sale of the properties of Arak and Al-Aqeeq Company – the two subsidiaries of Taeba Holding – the removal of the Aramas Hotel, which is owned by the Arab Company for Tourist Areas, and the proceeds from the sale of residential land and part of the land. In addition to the increase in occupancy rates in hotels and residential units and increase rental revenues in commercial centers. The decrease in the results of the second quarter of the current year is due to the results of the first quarter of this year to ensure the results of the first quarter of the whole Capital gains and profits realized from unrealized gains resulting from expropriation of expropriated properties in favor of expansion of the Haram al-Sharif, as well as proceeds from land sold in a high-rise scheme.