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| Advanced declared its financial position for the year ended 31/12/2009 |
03/02/2010 |
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 Advanced declared its financial position for the year ended 31/12/2009. The financial results for this period were as follows:
1. The company's net profit for the fourth quarter was SR 28.7 million comparing with a loss of SR 76.1 million for the same quarter last year and comparing with a net profit of SR 20.8 million for the last quarter with an increase of 38%.
2. The company's gross profit for the fourth quarter was SR 52.5 million comparing with a loss of SR 39.9 million for the same quarter last year.
3. The company's income from operation for the fourth quarter was SR 39.4 million comparing with a loss of SR 52.6 million for the same quarter last year.
4. The company's net profit for the last 12 months was SR 127.1 million comparing with a profit of SR 210.1 million for the same period last year with a decrease of %40.
5. Advanced stock price gained during the last 12 months a SR .899 comparing to a gain of SR 1.49 for the same period last year.
6. The company's gross income for the last 12 months was SR 217.9 million comparing with an income of SR 279.5 million for the same period last year with a decrease of %22.
7. The company's income from operation for the last 12 months was SR 172.9 million comparing with an income of SR 254 million for the same period last year with a decrease of %32.
The cause of increase in profit for the fourth quarter of 2009 comparing with the fourth quarter of last year 2008 and the third quarter of 2009 was due to the increase in products prices in the international markets during the fourth quarter of this year. And the reasons behind the decrease in net profit for the year ended 31/21/2009 was due to the decrease in average products prices comparing with the average products prices for year 2008. |
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