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FINANCIAL NEWS
Shaker Co’s profits hike
19 Jul 2011
(MENAFN) The Al-Hassan Ghazi Ibrahim Shaker Company, or what is known as Shaker Co, reported a 26.2 percent hike in its net income for the second quarter, which amounted to USD19.6 million up from the USD15.5 million reported in the same quarter of the previous fiscal year, reported Arab News.
As for quarter-on-quarter achievements, the company proudly announced a 119.1 percent leap in net income which hit USD9 million.
In addition, the company said that gross profit hit USD44.3 million, up from the USD33.4 million of the same quarter a year before.
In terms of the first half, the company said that net profits amounted to USD28.6 million, thus increasing 38.2 percent, year-on-year.
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