"The net profit for the first quarter was SR81.2 million against SR29.2 million for the corresponding quarter last year with a 178 percent increase and against SR56.5 million for the previous quarter with 43.7 percent increase," the company said in a written statement to the media.

The gross profit for the first quarter was SR148.8 million against SR22.8 million for the corresponding quarter last year with a 552.6 percent increase.

The operational profit for the first quarter was SR134.6 million against SR5.6 million for the corresponding quarter last year with 2,303 percent increase.

The earnings per share for the three months was SR0.24 against SR0.09 for the corresponding period last year.

The main reason for the increase in the results of the first quarter compared with the corresponding period last year was mainly due to the improvement in the product prices and the increase in the profit margins.

The company previously announced the distribution of cash dividends to its shareholders for 2009 in the amount of SR333 million at the rate of SR1 per share which represents 10 percent of the company's capital.