MIRA INFORM REPORT
|
Report Date : |
08.08.2011 |
|
|
|
|
Tel. No.: |
+96614629394 |
|
Fax No.: |
+96614629600 |
IDENTIFICATION DETAILS
|
Name : |
JARIR MARKETING COMPANY |
|
|
|
|
Registered Office : |
Olaya Main Street, P.O. Box 3196, Riyadh, 11471 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
08.10.2000 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
wholesaler and retailer
of office products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Saudi Arabia |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Jarir Marketing Company
Olaya Main Street
P.O. Box 3196
Riyadh, 11471
Saudi Arabia
Tel: 966-1-4626000
Fax: 966-1-4656363
Synthesis
Employees: 2,027
Company Type: Public Independent
Traded:
Saudi Arabian
Stock Exchange: 4190
Incorporation Date:
08-Oct-2000
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Saudi
Riyal
Annual Sales: 803.8
1
Net Income: 106.9
Total Assets: 382.2
2
Market Value:
1,810.6
(27-Jul-2011)
Business Description
Jarir Marketing
Company is a Saudi Arabia-based joint stock company that acts as a wholesaler
and retailer of office products. The Company's activities include retail and
wholesale trading in office and school supplies, children toys, educational
aids, office furniture, engineering equipment, computer and computer systems,
sport and scout equipment, and paper. The Company is also involved in the
purchase and acquisition of residential and commercial buildings and land, in
addition to computer maintenance. Its subsidiaries comprise Jarir Trading
Company and United Bookstore in Abu Dhabi, Jarir Bookstore in Kuwait, United
Company for Office supplies and Stationeries in Qatar and Jarir Egypt Financial
Leasing Co. in Egypt. As of December 31, 2010, the Company had 33 showrooms in
the Kingdom of Saudi Arabia and in the Gulf Cooperation Council Countries
(GCC). For the six months ended 30 June 2011, Jarir Marketing Company's total
revenue increased 30% to SAR1.91B. Net income increased 21% to SAR235.3M. Total
revenue reflects an increase in demand for the Company's products and services.
Net income was partially offset by a significant increase in general and
administrative expense as well as in selling and distribution expenses. Jarir
Marketing Company is listed on Saudi Stock Exchange.
Industry
Industry Office Supplies
ANZSIC 2006: 3736 - Paper
Product Wholesaling
NACE 2002: 5147 - Wholesale
of other household goods
NAICS 2002: 45321 - Office
Supplies and Stationery Stores
UK SIC 2003: 51479 - Wholesale
of other household goods not elsewhere classified
US SIC 1987: 5112 - Stationery
and Office Supplies
Key Executives
|
Name |
Title |
|
Abdul Karim Abdul Rahman Al Agil |
Chief Executive Officer, Member of the
Board |
|
Mohammed Abdul Rahman Al Agil |
Independent Chairman of the Board |
|
Abdullah Abdul Rahman Al Agil |
Managing Director, Member of the Board |
|
Nasser Al Agil |
Director |
|
Thamer M Al Khawashki |
Director |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Expansion / New Markets / New Units |
1 |
Jarir Marketing Company Opens New Barnch
in Hofuf City |
29-Jun-2011 |
|
Dividends |
4 |
Jarir Marketing Company Approves Interim
Cash Dividend |
19-Jul-2011 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Saudi Jarir
Marketing expands retail network |
29-Jun-2011 |
|
Saudi
consumer firms to gain from welfare spend, AlembicHC says |
4-Apr-2011 |
|
Saudi
consumer cos to gain from welfare spend: AlembicHC |
4-Apr-2011 |
|
Saudi's
Jarir sees smartphone sales driving growth in 2011 |
21-Mar-2011 |
|
Saudi Jarir
Marketing recommends USD 0.53 p/s dividend for Q4 2010 |
8-Feb-2011 |
Financial Summary
|
As of 30-Jun-2011 |
||||||||||||||||||||||||
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = SAR 3.750188
2 - Balance Sheet Item Exchange Rate: USD 1 = SAR 3.75025
Corporate Overview
Location
Olaya Main Street
P.O. Box 3196
Riyadh, 11471
Saudi Arabia
Tel: 966-1-4626000
Fax: 966-1-4656363
Quote Symbol - Exchange
4190 - Saudi
Arabian Stock Exchange
Sales SAR(mil): 3,014.6
Assets SAR(mil): 1,433.5
Employees: 2,027
Fiscal Year End: 31-Dec-2010
Industry: Office Supplies
Incorporation Date: 08-Oct-2000
Company Type: Public Independent
Quoted Status: Quoted
Chief Executive Officer,
Member of the Board: Abdul
Karim Abdul Rahman Al Agil
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Financial Information
· Home Page
· Products/Services
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Market Data
· Shareholders
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
4243 - Toy and Game Retailing
4222 - Computer and Computer Peripheral Retailing
4244 - Newspaper and Book Retailing
3735 - Book and Magazine Wholesaling
3736 - Paper Product Wholesaling
NACE 2002 Codes:
5248 - Other retail sale in specialised stores
5147 - Wholesale of other household goods
5247 - Retail sale of books, newspapers and stationery
NAICS 2002 Codes:
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
443120 - Computer and Software Stores
451120 - Hobby, Toy, and Game Stores
424920 - Book, Periodical, and Newspaper Merchant Wholesalers
451211 - Book Stores
45321 - Office Supplies and Stationery Stores
US SIC 1987:
5192 - Books, Periodicals, and Newspapers
5942 - Book Stores
5734 - Computer and Computer Software Stores
5945 - Hobby, Toy, and Game Shops
5099 - Durable Goods, Not Elsewhere Classified
5112 - Stationery and Office Supplies
UK SIC 2003:
5147 - Wholesale of other household goods
52482 - Retail sale of photographic, optical and precision
equipment, office supplies and equipment (including computers, etc)
51479 - Wholesale of other household goods not elsewhere classified
52485 - Retail sale of sports goods, games and toys, stamps and
coins
5247 - Retail sale of books, newspapers and stationery
Business
Description
Jarir Marketing
Company is a Saudi Arabia-based joint stock company that acts as a wholesaler
and retailer of office products. The Company's activities include retail and
wholesale trading in office and school supplies, children toys, educational
aids, office furniture, engineering equipment, computer and computer systems,
sport and scout equipment, and paper. The Company is also involved in the
purchase and acquisition of residential and commercial buildings and land, in
addition to computer maintenance. Its subsidiaries comprise Jarir Trading
Company and United Bookstore in Abu Dhabi, Jarir Bookstore in Kuwait, United
Company for Office supplies and Stationeries in Qatar and Jarir Egypt Financial
Leasing Co. in Egypt. As of December 31, 2010, the Company had 33 showrooms in
the Kingdom of Saudi Arabia and in the Gulf Cooperation Council Countries
(GCC). For the six months ended 30 June 2011, Jarir Marketing Company's total
revenue increased 30% to SAR1.91B. Net income increased 21% to SAR235.3M. Total
revenue reflects an increase in demand for the Company's products and services.
Net income was partially offset by a significant increase in general and
administrative expense as well as in selling and distribution expenses. Jarir
Marketing Company is listed on Saudi Stock Exchange.
More Business
Descriptions
· Wholesale and retail trade in educational and non-educational books, office equipment, accessories and stationery
· Office Equipment Merchant Wholesalers
Brand/Trade Names
· Edding
· Master Plan
· Faber Castell
· Standograph
· Elba
· Inoxcrom
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
Shareholders
Major Shareholders
Mohammed Rahman Alagil and Bros
Key Corporate
Relationships
· Auditor: Deloitte & Touche LLP
Bank: Arab National Bank, Saudi Investment Bank
· Auditor: Deloitte & Touche LLP, Deloitte & Touche
Executives Report
|
Board of
Directors |
|
|
|
|
|||
|
Independent Chairman of the Board |
Chairman |
|
|||
|
||||||
|
Director |
Director/Board Member |
|
|
||
|
Managing Director, Member of the Board |
Director/Board Member |
|
|
||
|
Member of the Board |
Director/Board Member |
|
|
||
|
Chief Executive Officer, Member of the Board |
Director/Board Member |
|
|
||
|
Independent Member of the Board |
Director/Board Member |
|
|
||
|
Independent Member of the Board, representing Al Alyan Financial
Company |
Director/Board Member |
|
|
||
|
Director |
Director/Board Member |
|
|
||
|
Independent Member of the Board |
Director/Board Member |
|
|
||
|
||||||
|
Executives |
|
|
|
|
|||
|
Chief Executive Officer, Member of the Board |
Chief Executive Officer |
|
|||
|
Managing Director, Member of the Board |
Managing Director |
|
Significant Developments
Jarir Marketing Company Approves Interim Cash Dividend Jul 19, 2011
Jarir Marketing Company announced that its Board of Directors has
approved the distribution of SAR 80 million as
interim cash dividend, representing SAR 2 per share for the second
quarter of fiscal year 2011.
Jarir Marketing Company Opens New Barnch in Hofuf City Jun 29, 2011
Jarir Marketing
Company announced that Jarir Bookstore has opened a new branch in the city of
Hofuf (province of Al-Ahsa) in the center of "Jarir Plaza Hofuf",
making it the company's 29th branch in total. The new branch is spread over
4000 square meters space, with a total investment of SAR 10 million.
Jarir Marketing
Company Approves Interim Cash Dividend for FY 2011 Apr 25, 2011
Jarir Marketing
Company announced that its Board of Directors has approved the distribution of
SAR 108 million cash dividend, representing SAR 2.7 per share for the first
quarter of fiscal year 2011.
Jarir Marketing
Company Approves Cash Dividend for FY 2010 Feb 08, 2011
Jarir Marketing
Company announced that its Board of Directors has approved the distribution of
SAR 80 million cash dividend, representing SAR 2.00 per share for the fourth
quarter of the fiscal year 2010. The Company also announced that the total
amount of the distributed dividends per share for the fiscal year 2010 is SAR
7.85.
Jarir Marketing
Company Declares FY 2010 Third Quarter Cash Dividend Distribution Oct 18, 2010
Jarir Marketing
Company announced that its Board of Directors, on its Board Meeting held on
October 17, 2010, approved the distribution of SAR 80 million cash dividend,
representing SAR 2.00 per share for the third quarter of the fiscal year 2010.
The dividends will be distributed on November 07, 2010, and the record date is
October 24, 2010. The Company also announced that the total amount of the
distributed dividends per share for the past nine months of the fiscal year
2010 will be SAR 5.85.
Saudi Jarir
Marketing expands retail network
ADP Middle East
& Africa News: 29 June 2011
[What follows is
the full text of the news story.]
(ADPnews) - Jun
29, 2011 - Saudi office and school supplies provider Jarir Marketing
(SAU:4190), also known as Jarir Bookstore, invested some SAR 10 million (USD
2.7m/EUR 1.9m) to open a new outlet in al-Hofuf, estern Saudi Arabia, the
company said in a bourse filing yesterday.
The outlet, which
covers an area of 4,000 sq m, is located in Jarir Plaza Al Hufuf. The new store
is the 29th Jarir Bookstore outlet within Saudi Arabia and in Kuwait, the UAE
and Qatar, according to Jarir Bookstore's CEO, Abdul Karim al-Aqil.
By the end of
2011, Jarir Bookstore will open another two outlets, in Meccah and Yanbu,
bringing the total number to 31, al-Aqil said.
Jarir
(www.jarirbookstore.com), the Kingdom's biggest book seller and stationery
trader by market value, also operates in Kuwait, Qatar and Abu Dhabi. Jarir
controls almost half of Saudi Arabia�s laptop market.
(SAR 1.0 = USD
0.267/EUR 0.186)
Saudi consumer firms to gain from welfare spend,
AlembicHC says
ArabianBusiness.com: 04 April 2011
[What follows is the full text of the news story.]
Saudi Arabia's
consumer sector should benefit most from the country's social spending
packages, AlembicHC said, and expects positive revenue surprises in 2011.Last
month, Saudi Arabia'sKing Abdullah announced $93bn in social handouts, the
second benefits package to be unveiled within a month, and included SR250bn
($67bn) to be spent on 500,000 new homes.AlembicHC, which upgraded Herfy Food
Services Co a notch to "overweight," expects thirteen percent
year-over-year revenue growth at the company in 2011 driven by 20 restaurant openings
and higher third-party processed meat sales.The brokerage named Jarir Marketing
Company as its top Saudi consumer pick. The stock was among the worst
performing MENA consumer names in 2010 with the market discounting continued
margin compression on overstated concerns, it added.On Almarai Co, the Gulf's
biggest dairy firm by market value, the brokerage said share price performance
could remain muted in the short term as the first quarter is likely to be
relatively weak.AlembicHC maintained "overweight" ratings on Jarir,
Almarai and Abdullah Al Othaim Markets Co, and "neutral" on Fawaz
Abdulaziz Alhokair Co.
Saudi consumer cos
to gain from welfare spend: AlembicHC
Kippreport
(Dubai): 04 April 2011
[What follows is
the full text of the news story.]
Saudi Arabia's
consumer sector should benefit most from the country's social spending
packages, AlembicHC said, and expects positive revenue surprises in 2011.
Last month, Saudi
Arabia'sKing Abdullah announced $93 billion in social handouts, the second benefits
package to be unveiled within a month, and included 250 billion riyals ($67
billion) to be spent on 500,000 new homes.
AlembicHC, which
upgraded Herfy Food Services Co a notch to "overweight," expects 13
percent year-over-year revenue growth at the company in 2011 driven by 20
restaurant openings and higher third-party processed meat sales.
The brokerage
named Jarir Marketing Company as its top Saudi consumer pick. The stock was
among the worst performing MENA consumer names in 2010 with the market discounting
continued margin compression on overstated concerns, it added.
On Almarai Co ,
the Gulf's biggest dairy firm by market value, the brokerage said share price
performance could remain muted in the short term as the first quarter is likely
to be relatively weak.
AlembicHC
maintained "overweight" ratings on Jarir, Almarai and Abdullah Al
Othaim Markets Co , and "neutral" on Fawaz Abdulaziz Alhokair Co.
(Reporting by Mary
Meyase in Bangalore; Editing by Don Sebastian)
Saudi's Jarir sees smartphone sales driving growth
in 2011
ArabianBusiness.com:
21 March 2011
[What follows is
the full text of the news story.]
Jarir Marketing
Co, a Saudi office supplies and electronics retailer, expects higher sales of
tablet PCs and smartphones to drive growth in 2011, its chairman said.Muhammad
al-Agil said that the Saudi king's massive handouts, which include wage hikes,
would provide a boon for retail sales."We expect good growth mainly driven
by (sales of) tablets and we also expect strong growth in smart phones,"
he said. "We also plan to open four stores, three in Saudi and one in
Kuwait, today we have 28 stores."Jarir said in 2009 it planned to expand
the number of its stores to between 40-45 stores by the end of 2013 with a goal
of increasing sales to close to a billion riyals in 2012.Agil projected Jarir
would see gross margins - which have been declining due to weak profitability
on smartphones - at 19 percent by the end of the year from 17 percent in
2010."We expect to get back. Last year, we had low market share and to
have a good market share we had to dump our prices. Now we see that our margin
is going to improve this year," Agil said, adding Jarir sold 158,000
smartphone sets and 19,000 tablet PCs in 2010."Now we have 10 percent
market share ... This will allow our gross margins to improve, may be 150 basis
point. We expect to go back to a gross margin of 19 percent from 17 percent in
2010."Jarir's 2010 annual profit rose 7.2 percent to SR401m ($106.9m)Agil
said the retail sector will benefit from Saudi King Abdullah's $93bn in
handouts, including wage increases, which will boost consumer spending."I
think the king's statement means that this year will be a robust one in terms
of consumer spending and economic activity," he said.Asked whether he had
any concerns that inflation may limit consumer spending on luxury goods, Agil
said the young population would continue to drive growth."People treat
their smartphones as a necessity, they are ready to pay around 1,000 riyals for
mobile charges, while they pay no more than 800 riyals for water and
electricity and other stuff,"People under the age of 30 make up two-thirds
of the indigenous population of more than 18 million Saudis.Shares in Jarir
closed up 1.28 percent on Monday.
Saudi Jarir
Marketing recommends USD 0.53 p/s dividend for Q4 2010
ADP Middle East
& Africa News: 08 February 2011
[What follows is
the full text of the news story.]
(ADPnews) - Feb 8,
2011 - Saudi office products wholesaler and retailer Jarir Marketing
(SAU:4190), also known as Jarir Bookstore, said in a bourse filing today that
its board of directors would recommend to shareholders a cash dividend of SAR 2
(USD 0.53/EUR 0.39) per share, or a total SAR 80 million, for the fourth
quarter of 2010.
If the dividend
payment for the fourth quarter of 2010 is approved, the total dividend payout
for the year will reach SAR 314 million, equal to SAR 7.85 per share, as the
company has already paid out SAR 234 million for the first three quarters of
2010.
In a separate
statement, Jarir said that its net profit for 2010 rose to SAR 401 million from
SAR 374 million a year earlier, or an increase of 7.2% year-on-year
Jarir
(www.jarirbookstore.com), the Kingdom's biggest book seller and stationery
trader by market value, also operates in Kuwait, Qatar and Abu Dhabi. Jarir
controls almost half of Saudi Arabia�s laptop market.
(SAR 1.0 = USD
0.267/EUR 0.196)
Saudi uptrend to continue this year
Gulf News (United Arab Emirates): 22 January 2011
[What follows is the full text of the news story.]
Petrochemical
sector is expected to perform positively as well, supported by high oil prices
and further expansion
On Wednesday,
after the biggest Saudi petrochemical firm Sabic's fourth-quarter results
missed analysts' estimates, the country's stock index retreated the most in two
months. However among experts, the Saudi market is expected to go higher in
2011. The market being still closed to foreign investors is going to act as a
barrier to greater inflows. Gulf News interviewed experts from Rasmala Investments
and Credit Suisse on their expectations for Saudi equities this year.
Marwan Haddad,
Portfolio Manager, Rasmala Investment Bank:
Gulf News: Looking
ahead, what are the prospects for the Tadawul in 2011?
Haddad: We
strongly believe that the Saudi market will continue its upward trend in 2011
and expect it to perform better than last year and even to be one of the best
regional performers over the course of the year. We believe that most investors
have finished cleaning and re-organising their books during the past two years
and are ready to increase their equity allocations.
Gulf News: What
are the broad macro themes that are going to determine the market's prospects?
Haddad: The global
economies are moving slowly toward full recovery; however each region still
faces its own challenges. In the US many macro indicators showed improvements,
but unemployment is still the biggest challenge. Before we see some significant
improvement there, policymakers will maintain their current expansionary fiscal
and monetary policy, which in turn will serve to extend the current rally in
equity markets. Emerging markets are in very good shape and they are currently
leading global demand and maintaining a healthy pressure on commodity prices.
This is serving the GCC region pretty well, however, some contradictory
measures are being taken in China to curb speculative inflows. Europe is going
through the worst with so many credit issues and fiscal rationing, and no clear
picture on the horizon. With so many mixed signals we believe that volatility
will stay high in 2011.
Given all the
above factors we think that investors will turn their eyes to the region and
especially the Saudi market. However, since the market is still closed to
direct foreign investments, this will curb some of the inflows.
Gulf News: Which
sectors in Saudi Arabia are going to do well?
Haddad: We believe
that the banking sector will pick up in 2011 with lower provisioning and higher
loans growth. The petrochemical sector is expected to perform positively as
well, supported by high oil prices and further expansion. The retail and
consumer sector is also set for a good performance during the year.
Which are your top
five picks for 2011?
Al Rajhi Bank,
Bank Saudi Fransi, Saudi Basic Industries Corp (Sabic), Sahara Petrochemicals
and Saudi International Petrochemical Company (Sipchem).
Kamran Butt,
Director and Head
Middle East Equity Research, Private Banking, Credit Suisse:
Gulf News: Looking
ahead, what are the prospects for the Saudi market in 2011 when compared to
2010?
Butt: Despite
Qatar outperforming the emerging market (EM) indices last year, the GCC markets
on whole have underperformed the EM indices. However, with the backdrop of
rising oil prices, robust recovery in economic growth, government spending
programmes and attractive valuations, GCC markets could start to outperform in
the near term. Saudi Arabia has an expected EPS growth for 2011 (with exception
of the UAE) far superior to that of other GCC countries and in our view represents
attractive value on a growth perspective.
Gulf News: What
are the broad macro themes that are going to determine the market's prospects?
Butt: We believe
Saudi Arabia's economy remains well positioned compared to most other GCC
countries. Rising oil prices (where Saudi is the biggest beneficiary) also
provides a backdrop to strong government expenditure which in our view is
positive for Saudi corporates. Domestic consumption growth is also showing
positive trends in Saudi Arabia. In addition, possible near term catalysts like
the local financial regulatory authority (CMA) possibility providing direct
stock market access to international investors who currently have to go through
Saudi intermediaries. If markets are opened to foreign investors, this could
provide strong momentum to the local equity markets.
In summary an
accommodative monetary policy through the riyal peg to the dollar, huge fiscal
stimulus planned by the government, higher hydrocarbon prices and possible
improved access for foreign investors could be powerful drivers for Saudi
stocks in 2011.
Mohamad Hawa,
?Head of Mena Equity Strategy, Equity Research, Credit Suisse Securities:
Gulf News: Which sectors are going to do well in Saudi Arabia?
Hawa: In Saudi Arabia, we still like domestic consumer plays (spending
momentum remains strong), petrochemicals (firm prices and expanding volumes),
and fertilizers (positive outlook of nitrogen prices due to near term tight
supply and rising marginal production costs) while we remain wary of banks due
to sluggish loan growth.
Gulf News: Which are your top picks for 2011?
Hawa: We expect chemicals and fertilizers to continue to do well in the
first half of the year and that includes Saudi Arabia Fertilizers Company
(Sqafco), Saudi Basic Industries Corporation (Sabic); and Saudi Arabian Mining
Company (Maaden) as is the case for consumer plays such as Jarir Marketing and
Mobily.
COMPANY
NEWS--Jarir's Q4 net profit up 2 percent on higher sales
Saudi Economic
Survey (Saudi Arabia): 18 January 2011
[What follows is
the full text of the news story.]
Saudi Arabia's office supplies and electronics retailer Jarir Marketing
Co's quarterly net profit rose two percent on higher sales of electronics, the
company has announced.
Jarir made SR 103.7 million in the three months ending December 30
compared to SR 103.5 million during the same period a year earlier, the firm
said in a bourse statement.
"The reason for higher sales in the fourth quarter and the whole
year is the increase in smart phone sales and computer sales as well as other
electronic equipment," the firm said.
Fourth quarter sales reached SR 811.8 million, up 12 percent from the
same period a year earlier while annual sales increased by 18 percent to SR 3
billion.
The company's annual profit for 2010 grew by 7.2 percent to SR 401
million, missing its own expectations of a rise of at least 15 percent in 2010
after it opened new stores.
Jarir said last year it planned to expand the number of its stores to
between 40-45 stores by the end of 2013 with a goal of increasing sales to
close to SR 1 billion in 2012.
Saudi Jarir
Marketing 2010 net profit grows 7.2% Y/Y
ADP Middle East
& Africa News: 11 January 2011
[What follows is
the full text of the news story.]
(ADPnews) - Jan
11, 2011 - Saudi office products wholesaler and retailer Jarir Marketing
(SAU:4190), also known as Jarir Bookstore, said in a bourse filing on Sunday
that according to preliminary results its net profit for 2010 rose to SAR 401
million (USD 106.9m/EUR 82.5m) from SAR 374 million a year earlier, or an
increase of 7.2% year-on-year.
The company
attributed the increase to an 18% rise in sales to SAR 3.015 billion, mainly
driven by higher sales of smart phones, PCs and other electronic devices.
For the fourth
quarter of 2010, Jarir said preliminary net profit stood at SAR 103.7 million,
almost unchanged from SAR 103.5 million in the same period of 2009. Sales rose
to SAR 818.8 million from SAR 724.5 million.
Jarir
(www.jarirbookstore.com), the kingdom's biggest book seller and stationery
trader in market value, also operates in Kuwait, Qatar and Abu Dhabi. Jarir
controls almost half of Saudi Arabia�s laptop market.
(SAR 1.0 = USD
0.267/EUR 0.206)
Saudi Jarir net profit raise 2% in Q4
Daily Pak Banker (Pakistan): 10 January 2011
[What follows is the full text of the news story.]
Karachi, Jan. 10
-- The BBK Bank has issued following Financial News: Jarir Marketing Co, a
Saudi company for office supplies and electronics retailer, announced that net
profit in the duration starting September 2010 and ending in December of the
same year amounted to $27.7 million and thus registering a two percent increase
on higher sales compared with the same period a year before, reported Arabian
Business. The firm stated that the increase in sales was due to a hike in smart
phone sales and computer sales as well as other electronic devices and
accessories. The company also announced that annual profit in 2010 raised by
7.2 percent amounting to $106.6 million. Original target was to achieve a hike
of 15 percent in 2010 after the chain opened new stores. It is worth that Jarir
announced in 2010 plans for increasing sales to $266 million riyals in 2012
Published by HT Syndication with permission from Daily Pak Banker. For any
query with respect to this article or any other content requirement, please
contact Editor at htsyndication@hindustantimes.com
Saudi's Jarir Q4
net profit up 2% on higher sales
ArabianBusiness.com:
09 January 2011
[What follows is
the full text of the news story.]
Saudi-based office
supplies and electronics retailer Jarir Marketing Co's quarterly net profit
rose two percent on higher sales of electronics, the company said on
Sunday.Jarir made SR103.7m ($27.7m) in the three months ending December 30
compared to SR103.5m during the same period a year earlier, the firm said in a
bourse statement."The reason for higher sales in the fourth quarter and
the whole year is the increase in smart phone sales and computer sales as well
as other electronic equipment," the firm said.Fourth quarter sales reached
SR811.8m, up 12 percent from the same period a year earlier while annual sales
increased by 18 percent to SR3bn.The company's annual profit for 2010 grew by
7.2 percent to SR401m, missing its own expectations of a rise of at least 15 percent
in 2010 after it opened new stores.Jarir said last year it planned to expand
the number of its stores to between 40-45 stores by the end of 2013 with a goal
of increasing sales to close to a billion riyals in 2012.Shares in Jarir were
trading 0.3 percent lower at 0817 GMT.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Total Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Cost of Revenue, Total |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Gross Profit |
133.7 |
129.7 |
116.0 |
88.8 |
79.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
28.2 |
27.2 |
22.9 |
14.7 |
1.6 |
|
Labor & Related Expense |
- |
- |
- |
- |
9.6 |
|
Advertising Expense |
- |
- |
- |
- |
1.6 |
|
Total Selling/General/Administrative Expenses |
28.2 |
27.2 |
22.9 |
14.7 |
12.8 |
|
Depreciation |
- |
- |
- |
- |
0.4 |
|
Depreciation/Amortization |
- |
- |
- |
- |
0.4 |
|
Other Operating Expense |
- |
- |
- |
- |
1.7 |
|
Other Operating Expenses, Total |
- |
- |
- |
- |
1.7 |
|
Total Operating Expense |
698.3 |
578.8 |
578.7 |
390.8 |
336.9 |
|
|
|
|
|
|
|
|
Operating Income |
105.5 |
102.5 |
93.1 |
74.1 |
64.6 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
4.7 |
0.0 |
-2.1 |
2.0 |
2.6 |
|
Other, Net |
4.7 |
0.0 |
-2.1 |
2.0 |
2.6 |
|
Income Before Tax |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Income After Tax |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Basic/Primary EPS Incl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted EPS Incl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Dividends per Share - Common Stock Primary Issue |
2.09 |
1.97 |
1.80 |
1.60 |
1.20 |
|
Gross Dividends - Common Stock |
83.7 |
78.7 |
72.0 |
64.0 |
- |
|
Depreciation, Supplemental |
5.2 |
5.0 |
3.8 |
3.7 |
0.4 |
|
Normalized Income Before Tax |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Normalized Income After Tax |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Rental Expenses |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Advertising Expense, Supplemental |
7.1 |
6.3 |
3.4 |
2.3 |
1.6 |
|
Normalized EBIT |
105.5 |
102.5 |
93.1 |
74.1 |
64.6 |
|
Normalized EBITDA |
110.8 |
107.5 |
96.9 |
77.8 |
65.0 |
|
Domestic Tax - Other |
3.3 |
2.8 |
2.3 |
2.4 |
- |
|
Income Tax - Total |
3.3 |
2.8 |
2.3 |
2.4 |
- |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
3.75025 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash and Short Term Investments |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Accounts Receivable -
Trade, Gross |
62.9 |
55.8 |
26.5 |
22.6 |
25.8 |
|
Provision for Doubtful
Accounts |
-6.4 |
-7.5 |
-4.4 |
-3.1 |
-3.7 |
|
Trade Accounts Receivable - Net |
56.5 |
48.3 |
22.0 |
19.5 |
22.1 |
|
Other Receivables |
- |
- |
21.4 |
17.4 |
14.6 |
|
Total Receivables, Net |
56.5 |
48.3 |
43.5 |
36.8 |
36.7 |
|
Inventories - Finished Goods |
64.8 |
54.9 |
56.4 |
98.1 |
80.7 |
|
Inventories - Work In Progress |
- |
- |
- |
8.5 |
5.9 |
|
Inventories - Other |
80.0 |
57.5 |
47.8 |
-6.0 |
-4.8 |
|
Total Inventory |
144.8 |
112.4 |
104.1 |
100.5 |
81.8 |
|
Prepaid Expenses |
9.5 |
9.8 |
7.1 |
4.1 |
2.9 |
|
Total Current Assets |
224.7 |
181.1 |
161.2 |
146.3 |
130.2 |
|
|
|
|
|
|
|
|
Buildings |
52.5 |
51.6 |
41.7 |
- |
- |
|
Land/Improvements |
98.2 |
93.9 |
91.5 |
- |
- |
|
Machinery/Equipment |
24.0 |
22.5 |
19.5 |
- |
- |
|
Construction in
Progress |
7.7 |
4.6 |
11.8 |
- |
- |
|
Other
Property/Plant/Equipment |
6.1 |
5.5 |
5.2 |
- |
- |
|
Property/Plant/Equipment - Gross |
188.5 |
178.1 |
169.7 |
- |
- |
|
Accumulated Depreciation |
-40.5 |
-35.3 |
-30.7 |
- |
- |
|
Property/Plant/Equipment - Net |
148.0 |
142.8 |
139.1 |
129.1 |
85.0 |
|
LT Investment - Affiliate Companies |
7.5 |
7.5 |
7.4 |
7.5 |
7.5 |
|
LT Investments - Other |
2.0 |
2.1 |
2.2 |
2.1 |
2.2 |
|
Long Term Investments |
9.5 |
9.6 |
9.6 |
9.6 |
9.7 |
|
Total Assets |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
93.6 |
73.9 |
42.5 |
49.9 |
39.4 |
|
Accrued Expenses |
14.6 |
12.0 |
10.9 |
9.1 |
7.0 |
|
Notes Payable/Short Term Debt |
13.4 |
9.9 |
11.2 |
50.7 |
0.1 |
|
Customer Advances |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Income Taxes Payable |
3.9 |
3.3 |
2.7 |
- |
- |
|
Other Payables |
6.0 |
- |
8.1 |
4.5 |
3.3 |
|
Other Current liabilities, Total |
12.1 |
6.2 |
13.4 |
6.4 |
4.7 |
|
Total Current Liabilities |
133.6 |
101.9 |
78.0 |
116.0 |
51.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
Total Long Term Debt |
26.7 |
26.7 |
40.0 |
0.0 |
0.0 |
|
Total Debt |
40.0 |
36.5 |
51.2 |
50.7 |
0.1 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
9.1 |
7.2 |
6.4 |
5.3 |
4.3 |
|
Other Long Term Liabilities |
0.1 |
4.9 |
2.5 |
1.4 |
0.6 |
|
Other Liabilities, Total |
9.3 |
12.1 |
8.9 |
6.6 |
4.9 |
|
Total Liabilities |
169.6 |
140.7 |
126.8 |
122.7 |
56.1 |
|
|
|
|
|
|
|
|
Common Stock |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Common Stock |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Retained Earnings (Accumulated Deficit) |
106.0 |
86.1 |
103.1 |
82.4 |
88.8 |
|
Total Equity |
212.7 |
192.7 |
183.0 |
162.4 |
168.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Employees |
2,027 |
1,846 |
- |
- |
- |
|
Deferred Revenue - Current |
2.1 |
4.5 |
4.5 |
2.9 |
2.0 |
|
Total Operating Leases, Supplemental |
19.9 |
14.9 |
7.3 |
5.4 |
- |
|
Operating Lease Payments Due in Year 1 |
0.0 |
5.1 |
3.2 |
2.3 |
- |
|
Operating Lease Payments Due in Year 2 |
6.4 |
3.9 |
2.4 |
1.6 |
- |
|
Operating Lease Payments Due in Year 3 |
4.7 |
2.5 |
1.2 |
1.0 |
- |
|
Operating Lease Payments Due in Year 4 |
3.7 |
1.9 |
0.4 |
0.3 |
- |
|
Operating Lease Payments Due in Year 5 |
3.0 |
1.5 |
0.2 |
0.1 |
- |
|
Operating Lease Payments Due in Year 6 |
2.2 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
11.1 |
6.4 |
3.5 |
2.7 |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
6.7 |
3.4 |
0.6 |
0.5 |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
2.2 |
0.0 |
0.0 |
0.0 |
- |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
110.2 |
102.6 |
88.7 |
73.7 |
64.9 |
|
Depreciation |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Depreciation/Depletion |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Unusual Items |
0.0 |
-0.1 |
-0.1 |
- |
- |
|
Other Non-Cash Items |
2.4 |
3.5 |
2.4 |
1.9 |
3.1 |
|
Non-Cash Items |
2.4 |
3.4 |
2.3 |
1.9 |
3.1 |
|
Accounts Receivable |
-7.1 |
-4.8 |
-9.7 |
-0.1 |
-3.5 |
|
Inventories |
-32.4 |
-8.2 |
-3.7 |
-18.8 |
-5.4 |
|
Prepaid Expenses |
0.3 |
-2.7 |
- |
-1.2 |
0.2 |
|
Accrued Expenses |
2.7 |
1.1 |
- |
2.1 |
1.4 |
|
Payable/Accrued |
19.7 |
23.2 |
3.2 |
11.6 |
7.2 |
|
Other Liabilities |
-0.8 |
0.3 |
0.6 |
0.6 |
0.0 |
|
Other Operating Cash Flow |
-3.0 |
-2.5 |
-2.5 |
-0.2 |
-2.2 |
|
Changes in Working Capital |
-20.6 |
6.4 |
-12.1 |
-6.0 |
-2.2 |
|
Cash from Operating Activities |
97.2 |
117.3 |
82.7 |
73.4 |
69.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Capital Expenditures |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.1 |
0.0 |
0.4 |
|
Investment, Net |
- |
- |
- |
0.0 |
-7.5 |
|
Purchase of Investments |
- |
- |
- |
0.0 |
-0.2 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.1 |
0.1 |
0.0 |
-7.3 |
|
Cash from Investing Activities |
-10.4 |
-8.4 |
-13.6 |
-47.8 |
-20.2 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Total Cash Dividends Paid |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Short Term Debt, Net |
3.5 |
-1.3 |
0.5 |
50.6 |
-16.4 |
|
Long Term Debt
Reduction |
0.0 |
-13.3 |
- |
- |
- |
|
Long Term Debt, Net |
0.0 |
-13.3 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
3.5 |
-14.7 |
0.5 |
50.6 |
-16.4 |
|
Cash from Financing Activities |
-83.4 |
-104.8 |
-67.4 |
-29.5 |
-48.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
0.0 |
-0.1 |
- |
- |
|
Net Change in Cash |
3.4 |
4.1 |
1.6 |
-3.9 |
0.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
10.6 |
6.5 |
4.9 |
8.8 |
8.5 |
|
Net Cash - Ending Balance |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash Taxes Paid |
2.8 |
2.2 |
2.3 |
- |
1.6 |
Annual
Income Statement
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Total Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Selling & Distribution Expenses |
13.4 |
13.4 |
9.3 |
6.6 |
0.3 |
|
General & Administrative Expenses |
14.9 |
13.8 |
13.5 |
8.2 |
1.3 |
|
Salaries & Benefits |
- |
- |
- |
- |
9.6 |
|
Provision of Doubtful Debts |
- |
- |
- |
- |
1.7 |
|
Advertising Expenses |
- |
- |
- |
- |
1.6 |
|
Depreciation |
- |
- |
- |
- |
0.4 |
|
Total Operating Expense |
698.3 |
578.8 |
578.7 |
390.8 |
336.9 |
|
|
|
|
|
|
|
|
Rent & Other Income |
- |
- |
3.9 |
3.6 |
3.9 |
|
Finance Costs |
-3.0 |
-3.6 |
-3.5 |
-1.6 |
-1.3 |
|
Expenses and Other Income |
7.7 |
3.6 |
-2.5 |
- |
- |
|
Net Income Before Taxes |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Net Income After Taxes |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Basic EPS Including ExtraOrdinary Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excluding ExtraOrd Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted EPS Including ExtraOrd Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
DPS-Common Stock |
2.09 |
1.97 |
1.80 |
1.60 |
1.20 |
|
Gross Dividends - Common Stock |
83.7 |
78.7 |
72.0 |
64.0 |
- |
|
Normalized Income Before Taxes |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Normalized Income After Taxes |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Depreciation Expenses |
5.2 |
5.0 |
3.8 |
3.7 |
0.4 |
|
Advertising Expenses |
7.1 |
6.3 |
3.4 |
2.3 |
1.6 |
|
Rent |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Provision for Zakat |
3.3 |
2.8 |
2.3 |
2.4 |
- |
|
Income Tax - Total |
3.3 |
2.8 |
2.3 |
2.4 |
- |
Annual
Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
3.75025 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Trade Receivables |
62.9 |
55.8 |
26.5 |
22.6 |
25.8 |
|
Advance Payment to Exporters |
- |
- |
9.7 |
13.2 |
8.9 |
|
Employees |
- |
- |
2.6 |
1.7 |
1.3 |
|
Due from Related Parties |
- |
- |
7.9 |
1.7 |
3.4 |
|
Other Receivables |
- |
- |
1.2 |
0.7 |
1.0 |
|
Prepaid Expenses |
9.5 |
9.8 |
7.1 |
4.1 |
2.9 |
|
Provision for Doubtful Debts |
-6.4 |
-7.5 |
-4.4 |
-3.1 |
-3.7 |
|
Computers & Softwares |
68.3 |
46.3 |
41.0 |
- |
- |
|
Stationaries |
26.3 |
25.9 |
27.5 |
22.9 |
14.6 |
|
School Supplies |
17.6 |
12.3 |
12.9 |
13.7 |
12.0 |
|
Publications & Other Materials |
16.6 |
12.5 |
12.0 |
17.6 |
16.8 |
|
Gifts & Electronics |
14.8 |
13.3 |
9.6 |
- |
- |
|
Engineering Tools and Computers |
4.3 |
4.2 |
3.9 |
43.9 |
37.3 |
|
Goods in Transit |
1.4 |
1.7 |
3.1 |
- |
- |
|
Work in Progress |
- |
- |
- |
8.5 |
5.9 |
|
Vedio Games |
6.2 |
6.2 |
- |
- |
- |
|
Other Inventory |
3.8 |
4.6 |
6.5 |
- |
- |
|
Provision for Slow Moving Inventory |
-14.6 |
-14.6 |
-12.4 |
-6.0 |
-4.8 |
|
Total Current Assets |
224.7 |
181.1 |
161.2 |
146.3 |
130.2 |
|
|
|
|
|
|
|
|
Investment Properties |
2.0 |
2.1 |
2.2 |
2.1 |
2.2 |
|
Investments in Affiliate |
7.5 |
7.5 |
7.4 |
7.5 |
7.5 |
|
Fixed Assets - Net |
- |
- |
- |
129.1 |
85.0 |
|
Land |
92.4 |
89.6 |
89.6 |
- |
- |
|
Building |
52.5 |
51.6 |
41.7 |
- |
- |
|
Machinery & Equipment |
2.0 |
1.9 |
1.8 |
- |
- |
|
Furniture & Fixtures |
18.5 |
17.5 |
14.7 |
- |
- |
|
Motor Vehichles |
3.5 |
3.1 |
3.0 |
- |
- |
|
Computer Software |
6.1 |
5.5 |
5.2 |
- |
- |
|
Building Improvements |
5.8 |
4.3 |
2.0 |
- |
- |
|
Construction in Progress |
7.7 |
4.6 |
11.8 |
- |
- |
|
Depreciation |
-40.5 |
-35.3 |
-30.7 |
- |
- |
|
Total Assets |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Due to Banks |
13.4 |
9.9 |
11.2 |
50.7 |
0.1 |
|
Accounts Payable |
93.6 |
73.9 |
- |
- |
- |
|
Trade Payables |
- |
- |
42.5 |
49.9 |
39.4 |
|
Employees |
6.0 |
- |
0.7 |
0.4 |
0.6 |
|
Advance Payments from Clients |
- |
- |
1.9 |
1.0 |
0.6 |
|
Other Payables |
- |
- |
5.5 |
3.0 |
2.1 |
|
Accrued Expenses |
14.6 |
- |
10.9 |
9.1 |
7.0 |
|
Zakat Payable |
3.9 |
3.3 |
2.7 |
- |
- |
|
Accrued Expenses & Others |
- |
12.0 |
- |
- |
- |
|
Deferred Revenues |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Total Current Liabilities |
133.6 |
101.9 |
78.0 |
116.0 |
51.3 |
|
|
|
|
|
|
|
|
LT Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
Total Long Term Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
|
|
|
|
|
|
|
Employee Motivation Plan |
0.1 |
4.9 |
2.5 |
1.4 |
0.6 |
|
End of Service Indemnity |
9.1 |
7.2 |
6.4 |
5.3 |
4.3 |
|
Total Liabilities |
169.6 |
140.7 |
126.8 |
122.7 |
56.1 |
|
|
|
|
|
|
|
|
Share Capital |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Statutory Reserve |
20.7 |
10.0 |
24.2 |
15.3 |
7.9 |
|
Special Reserve |
- |
- |
- |
0.0 |
3.5 |
|
Social Works Reserve |
0.0 |
3.5 |
3.5 |
3.5 |
3.5 |
|
Retained Earnings |
85.4 |
72.6 |
75.5 |
63.7 |
73.9 |
|
Total Equity |
212.7 |
192.7 |
183.0 |
162.4 |
168.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Deferred Revenue |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Customer Advances |
- |
1.6 |
1.9 |
1.0 |
0.6 |
|
Full-Time Employees |
2,027 |
1,846 |
- |
- |
- |
|
Operating Lease Due Within 1 Y |
0.0 |
5.1 |
3.2 |
2.3 |
- |
|
Operating Lease Due Within 2Y |
6.4 |
3.9 |
2.4 |
1.6 |
- |
|
Operaing Lease Due Within 3Y |
4.7 |
2.5 |
1.2 |
1.0 |
- |
|
Opearting Lease Due Within 4Y |
3.7 |
1.9 |
0.4 |
0.3 |
- |
|
Operating Lease Due Within 5Y |
3.0 |
1.5 |
0.2 |
0.1 |
- |
|
Operating Lease Due Within 6Y |
2.2 |
- |
- |
- |
- |
|
Total Operating Leases |
19.9 |
14.9 |
7.3 |
5.4 |
- |
Annual
Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
110.2 |
102.6 |
88.7 |
73.7 |
64.9 |
|
Depreciation |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Employee Motivation Plan |
1.3 |
2.4 |
1.1 |
0.8 |
- |
|
Provision for Doubtful Debts |
-1.1 |
- |
- |
- |
- |
|
Provisions for End of Service Indemnity |
2.2 |
1.1 |
1.3 |
1.2 |
0.8 |
|
Sale of Assets |
0.0 |
-0.1 |
-0.1 |
- |
- |
|
Zakat Provision |
- |
- |
- |
- |
2.3 |
|
Receivables |
-7.1 |
-4.8 |
-9.7 |
-0.1 |
-3.5 |
|
Inventory |
-32.4 |
-8.2 |
-3.7 |
-18.8 |
-5.4 |
|
Prepaid Expenses |
0.3 |
-2.7 |
- |
-1.2 |
0.2 |
|
Payables |
19.7 |
23.2 |
3.2 |
11.6 |
7.2 |
|
Accrued Expenses & Provisions |
2.7 |
1.1 |
- |
2.1 |
1.4 |
|
Deferred Revenues |
-0.8 |
0.3 |
0.6 |
0.6 |
0.0 |
|
End of Service Indemnity Paid |
-0.3 |
-0.3 |
-0.2 |
-0.2 |
-0.5 |
|
Paid Zakat |
-2.8 |
-2.2 |
-2.3 |
- |
-1.6 |
|
Cash from Operating Activities |
97.2 |
117.3 |
82.7 |
73.4 |
69.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Disposals of Fixed Assets |
0.0 |
0.1 |
0.1 |
0.0 |
0.4 |
|
Invest. in Companies Shares |
- |
- |
- |
0.0 |
-7.5 |
|
Purch. of Investment Properties |
- |
- |
- |
0.0 |
-0.2 |
|
Cash from Investing Activities |
-10.4 |
-8.4 |
-13.6 |
-47.8 |
-20.2 |
|
|
|
|
|
|
|
|
Due to Banks |
3.5 |
-1.3 |
0.5 |
50.6 |
-16.4 |
|
Long Term Loans |
0.0 |
-13.3 |
- |
- |
- |
|
Dividends Payable |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Cash from Financing Activities |
-83.4 |
-104.8 |
-67.4 |
-29.5 |
-48.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
0.0 |
-0.1 |
- |
- |
|
Net Change in Cash |
3.4 |
4.1 |
1.6 |
-3.9 |
0.4 |
|
|
|
|
|
|
|
|
Cash-Beginning Balance |
10.6 |
6.5 |
4.9 |
8.8 |
8.5 |
|
Cash-Ending Balance |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash Taxes Paid |
2.8 |
2.2 |
2.3 |
- |
1.6 |
Financial
Health
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual
Ratios
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual
Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Total Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Cost of Revenue, Total |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Gross Profit |
133.7 |
129.7 |
116.0 |
88.8 |
79.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
28.2 |
27.2 |
22.9 |
14.7 |
1.6 |
|
Labor & Related Expense |
- |
- |
- |
- |
9.6 |
|
Advertising Expense |
- |
- |
- |
- |
1.6 |
|
Total Selling/General/Administrative Expenses |
28.2 |
27.2 |
22.9 |
14.7 |
12.8 |
|
Depreciation |
- |
- |
- |
- |
0.4 |
|
Depreciation/Amortization |
- |
- |
- |
- |
0.4 |
|
Other Operating Expense |
- |
- |
- |
- |
1.7 |
|
Other Operating Expenses, Total |
- |
- |
- |
- |
1.7 |
|
Total Operating Expense |
698.3 |
578.8 |
578.7 |
390.8 |
336.9 |
|
|
|
|
|
|
|
|
Operating Income |
105.5 |
102.5 |
93.1 |
74.1 |
64.6 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
4.7 |
0.0 |
-2.1 |
2.0 |
2.6 |
|
Other, Net |
4.7 |
0.0 |
-2.1 |
2.0 |
2.6 |
|
Income Before Tax |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Income After Tax |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Basic/Primary EPS Incl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted EPS Incl Extraord Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Dividends per Share - Common Stock Primary Issue |
2.09 |
1.97 |
1.80 |
1.60 |
1.20 |
|
Gross Dividends - Common Stock |
83.7 |
78.7 |
72.0 |
64.0 |
- |
|
Depreciation, Supplemental |
5.2 |
5.0 |
3.8 |
3.7 |
0.4 |
|
Normalized Income Before Tax |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Normalized Income After Tax |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Rental Expenses |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Advertising Expense, Supplemental |
7.1 |
6.3 |
3.4 |
2.3 |
1.6 |
|
Normalized EBIT |
105.5 |
102.5 |
93.1 |
74.1 |
64.6 |
|
Normalized EBITDA |
110.8 |
107.5 |
96.9 |
77.8 |
65.0 |
|
Domestic Tax - Other |
3.3 |
2.8 |
2.3 |
2.4 |
- |
|
Income Tax - Total |
3.3 |
2.8 |
2.3 |
2.4 |
- |
Interim
Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750151 |
3.750249 |
3.750176 |
3.750219 |
3.750232 |
|
|
|
|
|
|
|
|
Net Sales |
258.2 |
252.1 |
216.5 |
196.1 |
179.2 |
|
Revenue |
258.2 |
252.1 |
216.5 |
196.1 |
179.2 |
|
Total Revenue |
258.2 |
252.1 |
216.5 |
196.1 |
179.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
224.1 |
208.8 |
181.0 |
162.3 |
152.8 |
|
Cost of Revenue, Total |
224.1 |
208.8 |
181.0 |
162.3 |
152.8 |
|
Gross Profit |
34.1 |
43.4 |
35.5 |
33.8 |
26.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.2 |
7.2 |
8.6 |
6.5 |
6.4 |
|
Total Selling/General/Administrative Expenses |
8.2 |
7.2 |
8.6 |
6.5 |
6.4 |
|
Total Operating Expense |
232.3 |
216.0 |
189.6 |
168.7 |
159.3 |
|
|
|
|
|
|
|
|
Operating Income |
25.9 |
36.1 |
26.9 |
27.4 |
19.9 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
1.4 |
1.3 |
1.6 |
0.9 |
1.1 |
|
Other, Net |
1.4 |
1.3 |
1.6 |
0.9 |
1.1 |
|
Income Before Tax |
27.4 |
37.4 |
28.4 |
28.3 |
21.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.1 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Income After Tax |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
Net Income |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excl Extraord Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Basic/Primary EPS Incl Extraord Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted Net Income |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excl Extraord Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted EPS Incl Extraord Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
2.09 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
83.7 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
1.2 |
1.3 |
1.3 |
1.3 |
1.4 |
|
Normalized Income Before Tax |
27.4 |
37.4 |
28.4 |
28.3 |
21.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.1 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Normalized Income After Tax |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted Normalized EPS |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Normalized EBIT |
25.9 |
36.1 |
26.9 |
27.4 |
19.9 |
|
Normalized EBITDA |
27.2 |
37.4 |
28.2 |
28.7 |
21.3 |
Annual
Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
3.75025 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash and Short Term Investments |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Accounts Receivable -
Trade, Gross |
62.9 |
55.8 |
26.5 |
22.6 |
25.8 |
|
Provision for Doubtful
Accounts |
-6.4 |
-7.5 |
-4.4 |
-3.1 |
-3.7 |
|
Trade Accounts Receivable - Net |
56.5 |
48.3 |
22.0 |
19.5 |
22.1 |
|
Other Receivables |
- |
- |
21.4 |
17.4 |
14.6 |
|
Total Receivables, Net |
56.5 |
48.3 |
43.5 |
36.8 |
36.7 |
|
Inventories - Finished Goods |
64.8 |
54.9 |
56.4 |
98.1 |
80.7 |
|
Inventories - Work In Progress |
- |
- |
- |
8.5 |
5.9 |
|
Inventories - Other |
80.0 |
57.5 |
47.8 |
-6.0 |
-4.8 |
|
Total Inventory |
144.8 |
112.4 |
104.1 |
100.5 |
81.8 |
|
Prepaid Expenses |
9.5 |
9.8 |
7.1 |
4.1 |
2.9 |
|
Total Current Assets |
224.7 |
181.1 |
161.2 |
146.3 |
130.2 |
|
|
|
|
|
|
|
|
Buildings |
52.5 |
51.6 |
41.7 |
- |
- |
|
Land/Improvements |
98.2 |
93.9 |
91.5 |
- |
- |
|
Machinery/Equipment |
24.0 |
22.5 |
19.5 |
- |
- |
|
Construction in
Progress |
7.7 |
4.6 |
11.8 |
- |
- |
|
Other
Property/Plant/Equipment |
6.1 |
5.5 |
5.2 |
- |
- |
|
Property/Plant/Equipment - Gross |
188.5 |
178.1 |
169.7 |
- |
- |
|
Accumulated Depreciation |
-40.5 |
-35.3 |
-30.7 |
- |
- |
|
Property/Plant/Equipment - Net |
148.0 |
142.8 |
139.1 |
129.1 |
85.0 |
|
LT Investment - Affiliate Companies |
7.5 |
7.5 |
7.4 |
7.5 |
7.5 |
|
LT Investments - Other |
2.0 |
2.1 |
2.2 |
2.1 |
2.2 |
|
Long Term Investments |
9.5 |
9.6 |
9.6 |
9.6 |
9.7 |
|
Total Assets |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
93.6 |
73.9 |
42.5 |
49.9 |
39.4 |
|
Accrued Expenses |
14.6 |
12.0 |
10.9 |
9.1 |
7.0 |
|
Notes Payable/Short Term Debt |
13.4 |
9.9 |
11.2 |
50.7 |
0.1 |
|
Customer Advances |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Income Taxes Payable |
3.9 |
3.3 |
2.7 |
- |
- |
|
Other Payables |
6.0 |
- |
8.1 |
4.5 |
3.3 |
|
Other Current liabilities, Total |
12.1 |
6.2 |
13.4 |
6.4 |
4.7 |
|
Total Current Liabilities |
133.6 |
101.9 |
78.0 |
116.0 |
51.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
Total Long Term Debt |
26.7 |
26.7 |
40.0 |
0.0 |
0.0 |
|
Total Debt |
40.0 |
36.5 |
51.2 |
50.7 |
0.1 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
9.1 |
7.2 |
6.4 |
5.3 |
4.3 |
|
Other Long Term Liabilities |
0.1 |
4.9 |
2.5 |
1.4 |
0.6 |
|
Other Liabilities, Total |
9.3 |
12.1 |
8.9 |
6.6 |
4.9 |
|
Total Liabilities |
169.6 |
140.7 |
126.8 |
122.7 |
56.1 |
|
|
|
|
|
|
|
|
Common Stock |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Common Stock |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Retained Earnings (Accumulated Deficit) |
106.0 |
86.1 |
103.1 |
82.4 |
88.8 |
|
Total Equity |
212.7 |
192.7 |
183.0 |
162.4 |
168.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Employees |
2,027 |
1,846 |
- |
- |
- |
|
Deferred Revenue - Current |
2.1 |
4.5 |
4.5 |
2.9 |
2.0 |
|
Total Operating Leases, Supplemental |
19.9 |
14.9 |
7.3 |
5.4 |
- |
|
Operating Lease Payments Due in Year 1 |
0.0 |
5.1 |
3.2 |
2.3 |
- |
|
Operating Lease Payments Due in Year 2 |
6.4 |
3.9 |
2.4 |
1.6 |
- |
|
Operating Lease Payments Due in Year 3 |
4.7 |
2.5 |
1.2 |
1.0 |
- |
|
Operating Lease Payments Due in Year 4 |
3.7 |
1.9 |
0.4 |
0.3 |
- |
|
Operating Lease Payments Due in Year 5 |
3.0 |
1.5 |
0.2 |
0.1 |
- |
|
Operating Lease Payments Due in Year 6 |
2.2 |
- |
- |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
11.1 |
6.4 |
3.5 |
2.7 |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
6.7 |
3.4 |
0.6 |
0.5 |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
2.2 |
0.0 |
0.0 |
0.0 |
- |
Interim
Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75005 |
3.75015 |
3.75025 |
3.75025 |
3.75045 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
9.8 |
23.8 |
13.9 |
14.4 |
6.6 |
|
Cash and Short Term Investments |
9.8 |
23.8 |
13.9 |
14.4 |
6.6 |
|
Trade Accounts Receivable - Net |
50.7 |
54.5 |
56.5 |
68.0 |
54.7 |
|
Total Receivables, Net |
50.7 |
54.5 |
56.5 |
68.0 |
54.7 |
|
Total Inventory |
153.0 |
112.4 |
144.8 |
113.7 |
111.9 |
|
Prepaid Expenses |
12.0 |
10.1 |
9.5 |
9.8 |
10.9 |
|
Total Current Assets |
225.5 |
200.8 |
224.7 |
205.8 |
184.1 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
158.7 |
155.1 |
148.0 |
148.4 |
147.4 |
|
LT Investments - Other |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
Long Term Investments |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
Total Assets |
393.6 |
365.3 |
382.2 |
363.7 |
341.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
103.6 |
71.4 |
93.6 |
85.1 |
65.5 |
|
Accrued Expenses |
16.6 |
20.9 |
14.6 |
15.7 |
12.8 |
|
Notes Payable/Short Term Debt |
9.8 |
4.4 |
13.4 |
33.4 |
37.7 |
|
Customer Advances |
3.1 |
2.4 |
2.1 |
2.0 |
2.5 |
|
Income Taxes Payable |
- |
- |
3.9 |
- |
- |
|
Other Payables |
7.2 |
6.5 |
6.0 |
- |
0.0 |
|
Other Current liabilities, Total |
10.2 |
8.9 |
12.1 |
2.0 |
2.5 |
|
Total Current Liabilities |
140.3 |
105.6 |
133.6 |
136.2 |
118.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
17.8 |
22.2 |
26.7 |
6.7 |
13.3 |
|
Total Long Term Debt |
17.8 |
22.2 |
26.7 |
6.7 |
13.3 |
|
Total Debt |
27.6 |
26.7 |
40.0 |
40.1 |
51.0 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
10.0 |
9.6 |
9.1 |
5.9 |
8.1 |
|
Other Long Term Liabilities |
0.2 |
0.2 |
0.1 |
8.5 |
5.6 |
|
Other Liabilities, Total |
10.2 |
9.7 |
9.3 |
14.4 |
13.7 |
|
Total Liabilities |
168.3 |
137.5 |
169.6 |
157.3 |
145.6 |
|
|
|
|
|
|
|
|
Common Stock |
106.7 |
106.7 |
106.7 |
106.7 |
106.7 |
|
Common Stock |
106.7 |
106.7 |
106.7 |
106.7 |
106.7 |
|
Retained Earnings (Accumulated Deficit) |
118.6 |
121.2 |
106.0 |
99.7 |
88.8 |
|
Total Equity |
225.3 |
227.8 |
212.7 |
206.4 |
195.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
393.6 |
365.3 |
382.2 |
363.7 |
341.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Deferred Revenue - Current |
3.1 |
2.4 |
2.1 |
2.0 |
2.5 |
Annual
Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
110.2 |
102.6 |
88.7 |
73.7 |
64.9 |
|
Depreciation |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Depreciation/Depletion |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Unusual Items |
0.0 |
-0.1 |
-0.1 |
- |
- |
|
Other Non-Cash Items |
2.4 |
3.5 |
2.4 |
1.9 |
3.1 |
|
Non-Cash Items |
2.4 |
3.4 |
2.3 |
1.9 |
3.1 |
|
Accounts Receivable |
-7.1 |
-4.8 |
-9.7 |
-0.1 |
-3.5 |
|
Inventories |
-32.4 |
-8.2 |
-3.7 |
-18.8 |
-5.4 |
|
Prepaid Expenses |
0.3 |
-2.7 |
- |
-1.2 |
0.2 |
|
Accrued Expenses |
2.7 |
1.1 |
- |
2.1 |
1.4 |
|
Payable/Accrued |
19.7 |
23.2 |
3.2 |
11.6 |
7.2 |
|
Other Liabilities |
-0.8 |
0.3 |
0.6 |
0.6 |
0.0 |
|
Other Operating Cash Flow |
-3.0 |
-2.5 |
-2.5 |
-0.2 |
-2.2 |
|
Changes in Working Capital |
-20.6 |
6.4 |
-12.1 |
-6.0 |
-2.2 |
|
Cash from Operating Activities |
97.2 |
117.3 |
82.7 |
73.4 |
69.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Capital Expenditures |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.1 |
0.0 |
0.4 |
|
Investment, Net |
- |
- |
- |
0.0 |
-7.5 |
|
Purchase of Investments |
- |
- |
- |
0.0 |
-0.2 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.1 |
0.1 |
0.0 |
-7.3 |
|
Cash from Investing Activities |
-10.4 |
-8.4 |
-13.6 |
-47.8 |
-20.2 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Total Cash Dividends Paid |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Short Term Debt, Net |
3.5 |
-1.3 |
0.5 |
50.6 |
-16.4 |
|
Long Term Debt
Reduction |
0.0 |
-13.3 |
- |
- |
- |
|
Long Term Debt, Net |
0.0 |
-13.3 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
3.5 |
-14.7 |
0.5 |
50.6 |
-16.4 |
|
Cash from Financing Activities |
-83.4 |
-104.8 |
-67.4 |
-29.5 |
-48.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
0.0 |
-0.1 |
- |
- |
|
Net Change in Cash |
3.4 |
4.1 |
1.6 |
-3.9 |
0.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
10.6 |
6.5 |
4.9 |
8.8 |
8.5 |
|
Net Cash - Ending Balance |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash Taxes Paid |
2.8 |
2.2 |
2.3 |
- |
1.6 |
Interim
Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750196 |
3.750249 |
3.750188 |
3.750194 |
3.750183 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
62.7 |
36.5 |
110.2 |
79.2 |
51.8 |
|
Depreciation |
2.5 |
1.3 |
5.2 |
3.9 |
2.6 |
|
Depreciation/Depletion |
2.5 |
1.3 |
5.2 |
3.9 |
2.6 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
2.0 |
0.9 |
2.4 |
2.4 |
1.6 |
|
Non-Cash Items |
2.0 |
0.9 |
2.4 |
2.4 |
1.6 |
|
Accounts Receivable |
5.8 |
2.0 |
-7.1 |
-19.6 |
-6.4 |
|
Inventories |
-8.1 |
32.4 |
-32.4 |
-1.3 |
0.5 |
|
Prepaid Expenses |
-2.5 |
-0.5 |
0.3 |
0.0 |
-1.1 |
|
Accounts Payable |
10.1 |
-22.2 |
19.7 |
11.2 |
-8.3 |
|
Accrued Expenses |
-1.9 |
2.3 |
2.7 |
0.4 |
-2.5 |
|
Other Liabilities |
0.9 |
0.3 |
-0.8 |
-0.9 |
-0.4 |
|
Other Operating Cash Flow |
- |
- |
-3.0 |
- |
- |
|
Changes in Working Capital |
4.3 |
14.3 |
-20.6 |
-10.2 |
-18.2 |
|
Cash from Operating Activities |
71.6 |
52.9 |
97.2 |
75.3 |
37.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-13.2 |
-8.4 |
-10.4 |
-9.4 |
-7.2 |
|
Capital Expenditures |
-13.2 |
-8.4 |
-10.4 |
-9.4 |
-7.2 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-13.2 |
-8.4 |
-10.4 |
-9.4 |
-7.1 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-50.1 |
-21.3 |
-86.9 |
-65.6 |
-49.1 |
|
Total Cash Dividends Paid |
-50.1 |
-21.3 |
-86.9 |
-65.6 |
-49.1 |
|
Short Term Debt, Net |
-12.4 |
-13.4 |
3.5 |
3.5 |
14.4 |
|
Long Term Debt
Reduction |
- |
- |
0.0 |
- |
- |
|
Long Term Debt, Net |
- |
- |
0.0 |
- |
- |
|
Issuance (Retirement) of Debt, Net |
-12.4 |
-13.4 |
3.5 |
3.5 |
14.4 |
|
Cash from Financing Activities |
-62.5 |
-34.7 |
-83.4 |
-62.1 |
-34.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-4.1 |
9.9 |
3.4 |
3.8 |
-4.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.9 |
13.9 |
10.6 |
10.6 |
10.6 |
|
Net Cash - Ending Balance |
9.8 |
23.8 |
13.9 |
14.4 |
6.6 |
|
Cash Taxes Paid |
- |
- |
2.8 |
- |
- |
Annual
Income Statement
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
Total Revenue |
803.8 |
681.3 |
671.8 |
464.9 |
401.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
670.1 |
551.7 |
555.8 |
376.1 |
321.9 |
|
Selling & Distribution Expenses |
13.4 |
13.4 |
9.3 |
6.6 |
0.3 |
|
General & Administrative Expenses |
14.9 |
13.8 |
13.5 |
8.2 |
1.3 |
|
Salaries & Benefits |
- |
- |
- |
- |
9.6 |
|
Provision of Doubtful Debts |
- |
- |
- |
- |
1.7 |
|
Advertising Expenses |
- |
- |
- |
- |
1.6 |
|
Depreciation |
- |
- |
- |
- |
0.4 |
|
Total Operating Expense |
698.3 |
578.8 |
578.7 |
390.8 |
336.9 |
|
|
|
|
|
|
|
|
Rent & Other Income |
- |
- |
3.9 |
3.6 |
3.9 |
|
Finance Costs |
-3.0 |
-3.6 |
-3.5 |
-1.6 |
-1.3 |
|
Expenses and Other Income |
7.7 |
3.6 |
-2.5 |
- |
- |
|
Net Income Before Taxes |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Net Income After Taxes |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Basic EPS Including ExtraOrdinary Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Net Income |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excluding ExtraOrd Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted EPS Including ExtraOrd Items |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
DPS-Common Stock |
2.09 |
1.97 |
1.80 |
1.60 |
1.20 |
|
Gross Dividends - Common Stock |
83.7 |
78.7 |
72.0 |
64.0 |
- |
|
Normalized Income Before Taxes |
110.2 |
102.6 |
91.0 |
76.1 |
67.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3.3 |
2.8 |
2.3 |
2.4 |
2.3 |
|
Normalized Income After Taxes |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
106.9 |
99.7 |
88.7 |
73.7 |
64.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Diluted Normalized EPS |
2.67 |
2.49 |
2.22 |
1.84 |
1.62 |
|
Depreciation Expenses |
5.2 |
5.0 |
3.8 |
3.7 |
0.4 |
|
Advertising Expenses |
7.1 |
6.3 |
3.4 |
2.3 |
1.6 |
|
Rent |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Provision for Zakat |
3.3 |
2.8 |
2.3 |
2.4 |
- |
|
Income Tax - Total |
3.3 |
2.8 |
2.3 |
2.4 |
- |
Interim
Income Statement
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750151 |
3.750249 |
3.750176 |
3.750219 |
3.750232 |
|
|
|
|
|
|
|
|
Sales |
258.2 |
252.1 |
216.5 |
196.1 |
179.2 |
|
Total Revenue |
258.2 |
252.1 |
216.5 |
196.1 |
179.2 |
|
|
|
|
|
|
|
|
Cost of Sales |
224.1 |
208.8 |
181.0 |
162.3 |
152.8 |
|
General & Administrative Expenses |
4.6 |
4.2 |
4.3 |
3.3 |
3.6 |
|
Selling & Distribution Expenses |
3.6 |
3.1 |
4.2 |
3.2 |
2.8 |
|
Total Operating Expense |
232.3 |
216.0 |
189.6 |
168.7 |
159.3 |
|
|
|
|
|
|
|
|
Rent & Other Income |
2.1 |
2.0 |
2.3 |
1.7 |
1.9 |
|
Finance Costs |
-0.6 |
-0.7 |
-0.8 |
-0.8 |
-0.8 |
|
Net Income Before Taxes |
27.4 |
37.4 |
28.4 |
28.3 |
21.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.1 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Net Income After Taxes |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
Net Income |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Basic EPS Including ExtraOrdinary Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted Net Income |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
Diluted Weighted Average Shares |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted EPS Including ExtraOrd Items |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
DPS-Common Stock |
0.00 |
0.00 |
2.09 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
83.7 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
27.4 |
37.4 |
28.4 |
28.3 |
21.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.1 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Normalized Income After Taxes |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
26.3 |
36.5 |
27.6 |
27.4 |
20.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Diluted Normalized EPS |
0.66 |
0.91 |
0.69 |
0.69 |
0.51 |
|
Depreciation |
1.2 |
1.3 |
1.3 |
1.3 |
1.4 |
Annual
Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75025 |
3.75075 |
3.7531 |
3.75055 |
3.75025 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Trade Receivables |
62.9 |
55.8 |
26.5 |
22.6 |
25.8 |
|
Advance Payment to Exporters |
- |
- |
9.7 |
13.2 |
8.9 |
|
Employees |
- |
- |
2.6 |
1.7 |
1.3 |
|
Due from Related Parties |
- |
- |
7.9 |
1.7 |
3.4 |
|
Other Receivables |
- |
- |
1.2 |
0.7 |
1.0 |
|
Prepaid Expenses |
9.5 |
9.8 |
7.1 |
4.1 |
2.9 |
|
Provision for Doubtful Debts |
-6.4 |
-7.5 |
-4.4 |
-3.1 |
-3.7 |
|
Computers & Softwares |
68.3 |
46.3 |
41.0 |
- |
- |
|
Stationaries |
26.3 |
25.9 |
27.5 |
22.9 |
14.6 |
|
School Supplies |
17.6 |
12.3 |
12.9 |
13.7 |
12.0 |
|
Publications & Other Materials |
16.6 |
12.5 |
12.0 |
17.6 |
16.8 |
|
Gifts & Electronics |
14.8 |
13.3 |
9.6 |
- |
- |
|
Engineering Tools and Computers |
4.3 |
4.2 |
3.9 |
43.9 |
37.3 |
|
Goods in Transit |
1.4 |
1.7 |
3.1 |
- |
- |
|
Work in Progress |
- |
- |
- |
8.5 |
5.9 |
|
Vedio Games |
6.2 |
6.2 |
- |
- |
- |
|
Other Inventory |
3.8 |
4.6 |
6.5 |
- |
- |
|
Provision for Slow Moving Inventory |
-14.6 |
-14.6 |
-12.4 |
-6.0 |
-4.8 |
|
Total Current Assets |
224.7 |
181.1 |
161.2 |
146.3 |
130.2 |
|
|
|
|
|
|
|
|
Investment Properties |
2.0 |
2.1 |
2.2 |
2.1 |
2.2 |
|
Investments in Affiliate |
7.5 |
7.5 |
7.4 |
7.5 |
7.5 |
|
Fixed Assets - Net |
- |
- |
- |
129.1 |
85.0 |
|
Land |
92.4 |
89.6 |
89.6 |
- |
- |
|
Building |
52.5 |
51.6 |
41.7 |
- |
- |
|
Machinery & Equipment |
2.0 |
1.9 |
1.8 |
- |
- |
|
Furniture & Fixtures |
18.5 |
17.5 |
14.7 |
- |
- |
|
Motor Vehichles |
3.5 |
3.1 |
3.0 |
- |
- |
|
Computer Software |
6.1 |
5.5 |
5.2 |
- |
- |
|
Building Improvements |
5.8 |
4.3 |
2.0 |
- |
- |
|
Construction in Progress |
7.7 |
4.6 |
11.8 |
- |
- |
|
Depreciation |
-40.5 |
-35.3 |
-30.7 |
- |
- |
|
Total Assets |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
Due to Banks |
13.4 |
9.9 |
11.2 |
50.7 |
0.1 |
|
Accounts Payable |
93.6 |
73.9 |
- |
- |
- |
|
Trade Payables |
- |
- |
42.5 |
49.9 |
39.4 |
|
Employees |
6.0 |
- |
0.7 |
0.4 |
0.6 |
|
Advance Payments from Clients |
- |
- |
1.9 |
1.0 |
0.6 |
|
Other Payables |
- |
- |
5.5 |
3.0 |
2.1 |
|
Accrued Expenses |
14.6 |
- |
10.9 |
9.1 |
7.0 |
|
Zakat Payable |
3.9 |
3.3 |
2.7 |
- |
- |
|
Accrued Expenses & Others |
- |
12.0 |
- |
- |
- |
|
Deferred Revenues |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Total Current Liabilities |
133.6 |
101.9 |
78.0 |
116.0 |
51.3 |
|
|
|
|
|
|
|
|
LT Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
Total Long Term Debt |
26.7 |
26.7 |
40.0 |
- |
- |
|
|
|
|
|
|
|
|
Employee Motivation Plan |
0.1 |
4.9 |
2.5 |
1.4 |
0.6 |
|
End of Service Indemnity |
9.1 |
7.2 |
6.4 |
5.3 |
4.3 |
|
Total Liabilities |
169.6 |
140.7 |
126.8 |
122.7 |
56.1 |
|
|
|
|
|
|
|
|
Share Capital |
106.7 |
106.6 |
79.9 |
80.0 |
80.0 |
|
Statutory Reserve |
20.7 |
10.0 |
24.2 |
15.3 |
7.9 |
|
Special Reserve |
- |
- |
- |
0.0 |
3.5 |
|
Social Works Reserve |
0.0 |
3.5 |
3.5 |
3.5 |
3.5 |
|
Retained Earnings |
85.4 |
72.6 |
75.5 |
63.7 |
73.9 |
|
Total Equity |
212.7 |
192.7 |
183.0 |
162.4 |
168.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
382.2 |
333.4 |
309.9 |
285.1 |
224.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Deferred Revenue |
2.1 |
2.9 |
2.6 |
2.0 |
1.4 |
|
Customer Advances |
- |
1.6 |
1.9 |
1.0 |
0.6 |
|
Full-Time Employees |
2,027 |
1,846 |
- |
- |
- |
|
Operating Lease Due Within 1 Y |
0.0 |
5.1 |
3.2 |
2.3 |
- |
|
Operating Lease Due Within 2Y |
6.4 |
3.9 |
2.4 |
1.6 |
- |
|
Operaing Lease Due Within 3Y |
4.7 |
2.5 |
1.2 |
1.0 |
- |
|
Opearting Lease Due Within 4Y |
3.7 |
1.9 |
0.4 |
0.3 |
- |
|
Operating Lease Due Within 5Y |
3.0 |
1.5 |
0.2 |
0.1 |
- |
|
Operating Lease Due Within 6Y |
2.2 |
- |
- |
- |
- |
|
Total Operating Leases |
19.9 |
14.9 |
7.3 |
5.4 |
- |
Interim
Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate |
3.75005 |
3.75015 |
3.75025 |
3.75025 |
3.75045 |
|
|
|
|
|
|
|
|
Cash |
9.8 |
23.8 |
13.9 |
14.4 |
6.6 |
|
Accounts Receivable |
50.7 |
54.5 |
56.5 |
68.0 |
54.7 |
|
Inventory |
153.0 |
112.4 |
144.8 |
113.7 |
111.9 |
|
Prepaid Expenses |
12.0 |
10.1 |
9.5 |
9.8 |
10.9 |
|
Total Current Assets |
225.5 |
200.8 |
224.7 |
205.8 |
184.1 |
|
|
|
|
|
|
|
|
Investment Properties |
2.0 |
2.0 |
2.0 |
2.1 |
2.1 |
|
AFS Invest |
7.5 |
7.5 |
7.5 |
7.5 |
7.5 |
|
Fixed Assets |
158.7 |
155.1 |
148.0 |
148.4 |
147.4 |
|
Total Assets |
393.6 |
365.3 |
382.2 |
363.7 |
341.0 |
|
|
|
|
|
|
|
|
Due to Banks |
9.8 |
4.4 |
13.4 |
33.4 |
37.7 |
|
Accounts Payable |
103.6 |
71.4 |
93.6 |
85.1 |
65.5 |
|
Accrued Expenses |
16.6 |
20.9 |
14.6 |
15.7 |
12.8 |
|
Employees |
7.2 |
6.5 |
6.0 |
- |
0.0 |
|
Provision for Zakat |
- |
- |
3.9 |
- |
- |
|
Deferred Revenues |
3.1 |
2.4 |
2.1 |
2.0 |
2.5 |
|
Total Current Liabilities |
140.3 |
105.6 |
133.6 |
136.2 |
118.5 |
|
|
|
|
|
|
|
|
LT Loan |
17.8 |
22.2 |
26.7 |
6.7 |
13.3 |
|
Total Long Term Debt |
17.8 |
22.2 |
26.7 |
6.7 |
13.3 |
|
|
|
|
|
|
|
|
Employee Motivation Plan |
0.2 |
0.2 |
0.1 |
8.5 |
5.6 |
|
End of Service Indemnity |
10.0 |
9.6 |
9.1 |
5.9 |
8.1 |
|
Total Liabilities |
168.3 |
137.5 |
169.6 |
157.3 |
145.6 |
|
|
|
|
|
|
|
|
Share Capital |
106.7 |
106.7 |
106.7 |
106.7 |
106.7 |
|
Statutory Reserve |
26.9 |
24.3 |
20.7 |
17.9 |
15.2 |
|
Social Works & Planned Grants Rsserve |
- |
- |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
91.7 |
96.9 |
85.4 |
81.8 |
73.7 |
|
Total Equity |
225.3 |
227.8 |
212.7 |
206.4 |
195.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
393.6 |
365.3 |
382.2 |
363.7 |
341.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Total Common Shares Outstanding |
40.0 |
40.0 |
40.0 |
40.0 |
40.0 |
|
Deferred Revenues |
3.1 |
2.4 |
2.1 |
2.0 |
2.5 |
Annual
Cash Flows
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750188 |
3.750409 |
3.751248 |
3.747242 |
3.750187 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
110.2 |
102.6 |
88.7 |
73.7 |
64.9 |
|
Depreciation |
5.2 |
5.0 |
3.8 |
3.7 |
3.3 |
|
Employee Motivation Plan |
1.3 |
2.4 |
1.1 |
0.8 |
- |
|
Provision for Doubtful Debts |
-1.1 |
- |
- |
- |
- |
|
Provisions for End of Service Indemnity |
2.2 |
1.1 |
1.3 |
1.2 |
0.8 |
|
Sale of Assets |
0.0 |
-0.1 |
-0.1 |
- |
- |
|
Zakat Provision |
- |
- |
- |
- |
2.3 |
|
Receivables |
-7.1 |
-4.8 |
-9.7 |
-0.1 |
-3.5 |
|
Inventory |
-32.4 |
-8.2 |
-3.7 |
-18.8 |
-5.4 |
|
Prepaid Expenses |
0.3 |
-2.7 |
- |
-1.2 |
0.2 |
|
Payables |
19.7 |
23.2 |
3.2 |
11.6 |
7.2 |
|
Accrued Expenses & Provisions |
2.7 |
1.1 |
- |
2.1 |
1.4 |
|
Deferred Revenues |
-0.8 |
0.3 |
0.6 |
0.6 |
0.0 |
|
End of Service Indemnity Paid |
-0.3 |
-0.3 |
-0.2 |
-0.2 |
-0.5 |
|
Paid Zakat |
-2.8 |
-2.2 |
-2.3 |
- |
-1.6 |
|
Cash from Operating Activities |
97.2 |
117.3 |
82.7 |
73.4 |
69.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-10.4 |
-8.5 |
-13.8 |
-47.8 |
-12.9 |
|
Disposals of Fixed Assets |
0.0 |
0.1 |
0.1 |
0.0 |
0.4 |
|
Invest. in Companies Shares |
- |
- |
- |
0.0 |
-7.5 |
|
Purch. of Investment Properties |
- |
- |
- |
0.0 |
-0.2 |
|
Cash from Investing Activities |
-10.4 |
-8.4 |
-13.6 |
-47.8 |
-20.2 |
|
|
|
|
|
|
|
|
Due to Banks |
3.5 |
-1.3 |
0.5 |
50.6 |
-16.4 |
|
Long Term Loans |
0.0 |
-13.3 |
- |
- |
- |
|
Dividends Payable |
-86.9 |
-90.1 |
-68.0 |
-80.1 |
-32.0 |
|
Cash from Financing Activities |
-83.4 |
-104.8 |
-67.4 |
-29.5 |
-48.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
0.0 |
-0.1 |
- |
- |
|
Net Change in Cash |
3.4 |
4.1 |
1.6 |
-3.9 |
0.4 |
|
|
|
|
|
|
|
|
Cash-Beginning Balance |
10.6 |
6.5 |
4.9 |
8.8 |
8.5 |
|
Cash-Ending Balance |
13.9 |
10.6 |
6.5 |
4.9 |
8.8 |
|
Cash Taxes Paid |
2.8 |
2.2 |
2.3 |
- |
1.6 |
Interim
Cash Flows
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SAR |
SAR |
SAR |
SAR |
SAR |
|
Exchange Rate
(Period Average) |
3.750196 |
3.750249 |
3.750188 |
3.750194 |
3.750183 |
|
|
|
|
|
|
|
|
Net Income |
62.7 |
36.5 |
110.2 |
79.2 |
51.8 |
|
Depreciation |
2.5 |
1.3 |
5.2 |
3.9 |
2.6 |
|
Provisions for End of Service Indemnity |
0.8 |
0.4 |
2.2 |
1.3 |
0.9 |
|
Provision for Doubtful Debt |
- |
- |
-1.1 |
- |
- |
|
Employee Motivations Plan |
1.2 |
0.5 |
1.3 |
1.1 |
0.7 |
|
Sale of Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Receivables |
5.8 |
2.0 |
-7.1 |
-19.6 |
-6.4 |
|
Inventory |
-8.1 |
32.4 |
-32.4 |
-1.3 |
0.5 |
|
Prepaid Expenses |
-2.5 |
-0.5 |
0.3 |
0.0 |
-1.1 |
|
Payables |
10.1 |
-22.2 |
19.7 |
11.2 |
-8.3 |
|
Accrued Expenses & Provisions |
-1.9 |
2.3 |
2.7 |
0.4 |
-2.5 |
|
Deferred Revenues |
0.9 |
0.3 |
-0.8 |
-0.9 |
-0.4 |
|
End of Service Indemnity Paid |
- |
- |
-0.3 |
- |
- |
|
Paid Zakat |
- |
- |
-2.8 |
- |
- |
|
Cash from Operating Activities |
71.6 |
52.9 |
97.2 |
75.3 |
37.8 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-13.2 |
-8.4 |
-10.4 |
-9.4 |
-7.2 |
|
Disposals of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-13.2 |
-8.4 |
-10.4 |
-9.4 |
-7.1 |
|
|
|
|
|
|
|
|
Due to Banks |
-12.4 |
-13.4 |
3.5 |
3.5 |
14.4 |
|
Long Term Loans |
- |
- |
0.0 |
- |
- |
|
Dividends Payable |
-50.1 |
-21.3 |
-86.9 |
-65.6 |
-49.1 |
|
Cash from Financing Activities |
-62.5 |
-34.7 |
-83.4 |
-62.1 |
-34.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-4.1 |
9.9 |
3.4 |
3.8 |
-4.0 |
|
|
|
|
|
|
|
|
Cash-Beginning Balance |
13.9 |
13.9 |
10.6 |
10.6 |
10.6 |
|
Cash-Ending Balance |
9.8 |
23.8 |
13.9 |
14.4 |
6.6 |
|
Cash Taxes Paid |
- |
- |
2.8 |
- |
- |
Geographic
Segments
Financials in: As Reported (mil)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic
Segments
Financials in: As Reported (mil)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Segments
Financials in: As Reported (mil)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Segments
Financials in: As Reported (mil)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.80 |
|
UK Pound |
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.63.11 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.