- RIYADH: The Saudi Arabian Fertilizer Company (SAFCO) has posted a net income of SR833 million for Q1, 2011, compared to SR698 million for the corresponding quarter of the previous year, an increase of 19 percent, and SR1,025 million for Q4 2010, a decrease of 19 percent.
Its gross income in the Q1 is SR775 million, compared to SR643 million for the corresponding quarter of the previous year, an increase of 21 percent.
Operating income in Q1 is SR757 million, compared to SR 618 million for the corresponding quarter of the previous year, an increase of 22 percent.
Earnings per share during Q1 are SR3.33, compared to SR2.79 in the corresponding quarter of the previous year.
The increased net income in Q1 2011 compared to the net income in Q1 2010 is due to the increase in sales prices, and the decrease against Q4 2010 is due to the decrease in sales volume, SAFCO stated.