Arabian Aramco Total Services Company Announces The Interim Financial Results For The Second Quarter Ending At 30/06/2012
The interim financial results for the second quarter ending 30/06/2012 are as follows:
There are no detailed substantial data for AATSC, as it has been established for the purpose of issuing SATORP's Sukuk only. Accordingly, it will not incur any substantial liabilities or operations except in relation to the Sukuk issuance. Instead, we announce the interim financial results for the period ending 30/06/2012 for the parent company SATORP as follows:
Net loss during the second quarter of 2012 was SR 72.86 million compared to SR 72.00 million for the second quarter of 2011, showing an increase by 1.0 % and compared to SR 93.5 million with a decrease of 22.07 % for the previous quarter
Net loss during the six months of 2012 was SR 166.40 million compared to SR 142.70 million for the second quarter of 2011, showing an increase by 17.0 %.
Loss per share for the six months of 2012 was SR 0.57 compared to the SR 0.82 per share for the same period of 2011.
The non-operational loss decreased during the second quarter of 2012 as compared to the first quarter of 2012, due to the decrease in the general and administrative expenses despite the continuous work done and efforts to run the project. The project is still under construction and is currently focusing on the construction activities.