Taiba Holding announces interim consolidated financial results for the period ended 30/09/2011 (nine months)

Net profit for the third quarter of 2011 amounted to SR 90,393,134 compared to SAR 18,139,488 for the third quarter of the previous year 2010, an increase of 398.32% compared to SAR 32,240,008 for the second quarter of 2011, an increase of 180.38%. Gross profit for the third quarter of 2011 amounted to SR 116,845,201 compared to SR 32,080,208 for the third quarter of the previous year, an increase of 264.23%. Net profit for the third quarter of 2011 amounted to SR 87,525,877 compared to SR 23,319,844 for the third quarter of the previous year 2010, an increase of 275.33%. The net profit for the nine months from 01/01/2011 to 30/09/2011 amounted to SR 159,861,250 compared to SR 50,130,001 for the corresponding period of the previous year 2010, an increase of 218.89%. Earnings per share for the nine months period from 01/01/2011 to 30/09/2011 amounted to SR 1,07 compared to SAR 0.33 for the same period last year. The total profit for the nine months from 01/01/2011 to 30/09/2011 amounted to SR 200,262,587 compared to SAR 71,390,012 for the same period last year, an increase of 180.52%. The net profit of the activity during the nine months from 01/01/2011 to 30/09/2011 amounted to SR 143,950,412 compared to SR 43,204,872 for the same period of the previous year 2010, an increase of 233.18%. The increase in the results of the financial period (9 months) is due to the same period last year and the results for the third quarter of this year for the third quarter of the previous year 2010 and the second quarter of this year as a result of achieving capital returns of SR 59,771,080 The expropriation of land plot No. 5061 located in the central region of Madinah in favor of expansion of the eastern arena of the Prophet’s Mosque as announced previously in addition to the high rental revenues of the center of Tiba Commercial and the high operating revenues of Majidi Housing and Taiba Housing and Hotel City Aramas to increase the percentage of lighting L in those centers and hotels.