NAMA CHEMICALS ANNOUNCES THE FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2011

1. Net loss for the 1st quarter of year 2011 reached amount SR (4.3) Million against net Profit amount SR 2.1 Millions for the similar 1st quarter of the last Year.
2. Gross profit for the 1st quarter of year 2011 reached amount SR 10.8 Million against gross profit amount SR 15.2 Million, with (29%) lower percentage.
3. Operation losses for the 1st quarter of year 2011 amount SR (9.7) Million against operation profit amount SR 3.3 Million for the similar last year.
4. Losses per share for the 1st quarter of year 2011 reached SR (0.034) against profit per share SR 0.016 for the similar quarter last year.
5. The loss in this quarter is attributed to the increase in the raw material prices imported while finished products prices remain firm during the period. This in addition to the increase in the plants operating costs which started commercial operation in 31/12/2010. It should be noted that the company lately has increased its finished products prices for the coming period to in response to the increase in the expenses.