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FINANCIAL NEWS
Al-Abdullatif Industrial Q2 net profit up 9%
18 Jul 2011
(MENAFN) Al-Abdullatif Industrial Investment Company said that as a result of growing sales, in the second quarter, the company’s net profit rose 9 percent reaching USD11.17 million from USD10.24 million in the same quarter a year ago, reported Arab News.
The company added that total profit for the quarter surged 11.8 percent reaching USD15.9 million compared with USD14.26 million in 2010’s same period, whereas the company’s net profit for the year’s first half reached USD20.61 million from USD21.31 million in the same period a year ago.
It also said that for the first six months of 2011, operating profit fell 2 percent from the same period in 2010 reaching USD22 million.
It is owrth noting that Al-Abdullatif Industrial Investment’s earning per share reached USD0.25 for 2011’s first half compared with USD0.26 for the same period a year earlier.
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