- RIYADH: Saudi Arabian Amiantit said its net income for second quarter ending on June 30, 2011 amounted to SR38.9 million compared to SR45.6 million for the same quarter of prior year, representing a decrease of 15 percent and compared to a net income for the prior quarter of SR34.3 million representing an increase of 13 percent, according to information posted on Tadawul website on Saturday.
The gross profit for the six months amounted to SR316 million compared to SR411 million for the same period of prior year, representing a decrease of 23 percent
The income from operation for the six month amounted to SR153.6 million compared to 238.6 million for the same period of prior year, representing a decrease of 36 percent.
Income from operation declined due to lower margin compared to the same quarter of prior year and to increased competition.