Saudi Industrial Services Company "SISCO" announces its interim financial results for the period ended 30 June 2011 (Six months)

Saudi Industrial Services Company (SISCO) announces its interim financial results for the period ended 30 June 2011 as follows:-

  1. Net profit in the second quarter reached SR 5,349,298 compared to net profit of SR 2,216,081 in the comparable quarter of 2010 with 141% increase, and compared to net loss of SR (785,705) in the first quarter of 2011.
  2. Gross profit in the second quarter reached SR 43,132,857 compared to SR 28,083,242 in the comparable quarter of 2010, with 54% increase.
  3. Operating profit in the second quarter reached SR 21,387,134 compared to SR 7,147,544 in the comparable quarter of 2010, with 199% increase.
  4. Net profit for the six months ended 30/06/2011 reached SR 4,563,593 compared to net profit SR 4,311,436 for the same period of 2010 with 6% increase .
  5. Net profit per share for the six months ended 30/06/2011reached 0.067 compared to net profit per share of SR 0.063 in the comparable period of 2010.
  6. Gross profit for the six months ended 30/06/2011reached SR 74,591,644 compared to Gross profit of SR 48,667,429 in the comparable period of 2010, with 53% increase .
  7. Operating profit for the six months ended 30/06/2011 reached SR 30,866,389 compared to operating profit of SR 13,536,737 in the comparable period of 2010, with 128% increase.
  8. Net profit for the second quarter, and the six months ended 30 June 2011 compared to the similar periods of last year, increased due to the improvement in the operating result which was mainly due to the commencement of operation at Red Sea Gateway Terminal.



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