AL HASSAN G. I. SHAKER COMPANY (SHAKER CO.) ANNOUNCES ITS INTERIM CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD ENDED 30/09/2011 (9 MONTHS)

Al Hassan Ghazi Ibrahim Shaker Company (Shaker Co.) announces its interim consolidated financial results for the period ended 30/09/2011 which came as follows:

1. Net income for the 3rd Quarter of FY 2011 came to SAR 55 Million compared to SAR 46.6 Million achieved in the 3rd Quarter of FY 2010 reflecting an increase of %18 and compared to SAR 73.6 Million achieved in the previous 2nd Quarter of FY 2011 showing a decrease of %25.2

2. Gross Profit for the 3rd Quarter of FY 2011 came to SR 130.5 Million compared to SR 108.5 Million achieved in the 3rd Quarter of FY 2010 reflecting an increase of %20.2

3. Operating Profit for the 3rd Quarter of FY 2011 came to SR 65.9 Million compared to SR 52.5 Million achieved in the 3rd Quarter of FY2010 reflecting an increase of %25.5

4. Net Profit for the first 9 months of FY 2011 came to SR 162.2 Million compared to SR 124.2 Million achieved in the first 9 months of FY2010 reflecting an increase of %30.6

5. Earnings per share (EPS) for the first 9 months of FY 2011 came to SAR 4.63 compared to SAR 3.55 resulted in the first 9 months of FY 2010

6. Gross Profit for the first 9 months in FY 2011came to SAR 391.3 Million compared to SAR 303.7 Million achieved in the first 9 months of FY2010 reflecting an increase of %28.8

7. Operating Profit for the first 9 months in FY 2011 came to SAR 193.9 Million compared to SAR 153.8 Million achieved in the first 9 months of FY2010 reflecting an increase of %26

8. Reported increases in Q3 profit and first 9 months of FY2011 compared to same periods of FY2010 were due to overall sales increase as Shaker co. and its subsidiaries achieved sales of SAR 413.7 Million during Q3 of FY 2011 compared to SAR 336,5 Million achieved during Q3 of FY 2010 showing an increase of %22.9 while its sales during the first 9 months of FY 2011 has reached SAR 1.3 Billion compared to SAR 911.6 Million achieved during the first 9 months of FY 2010 recording an increase of %41.8 inclusive of the increased export sales of air conditioning products manufactured by local subsidiary LG Shaker which has recorded more than SAR 125 Million of export sales compared to SAR 24 Million of achieved export sales during the same period of FY 2010. The overall positive results came despite the notion of net income of Q3 compared to previous Q2 of FY 2011 showed a decline due to noted demand decline during Holy month of Ramadan and subsequent Eid Holiday.

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