| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
-
|
83.39
|
-
|
88.56
|
| Gross profit (loss) |
7.42
|
25.72
|
-
|
5.35
|
38.69
|
| Operational profit (loss) |
-
|
-
|
-
|
-
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
-
|
-
|
4.96 |
| Gross profit (loss) |
14.1
|
51.15
|
- |
| Operational profit (loss) |
-
|
-
|
- |
| Earning or loss per share, Riyals |
-
|
-
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in company net losses in quarter 2, 2016 to SR 3.5 million which represents a decline of 83 % compared to same quarter of the previous year is due to the final settlement on the insurance claim against Para plant limited fire happened during Q3 2014 for SR 29 million in current quarter which is announced on 30th June 2016, on Tadawul website. The company continuing losses are attributable to the continuing fall in sale prices of major products of the company influenced by the growing volatility in global economy and fluctuating oil prices as well as lower methanol prices which resulted in fierce competition in Company main markets i.e. local markets India, China and East Asia. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease in company net losses in the current period to SR 34,8 million which represents a decline of about 5 % compared to same period of the previous year is due to the final settlement on the insurance claim against Para plant limited fire happened during Q3 2014 for SR 29 million in current quarter which is announced on 30th June 2016, on Tadawul website. The company continuing losses are attributable to the continuing fall in sale prices of major products of the company influenced by the growing volatility in global economy and fluctuating oil prices as well as lower methanol prices which resulted in fierce competition in Company main markets i.e. local markets India, China and East Asia. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The company net losses decreased in the quarter 2 of 2016 to SR 3,57 million compared to the previous quarter losses which was 31,3 million due to the final settlement on the insurance claim against Para plant limited fire happened during Q3 2014 for SR 29 million.The company continuing losses are attributable to the continuing fall in sale prices of major products of the company |
| Reclassifications in quarterly financial results | Comparative figures have been reclassified to conform to the current period presentation. Such reclassification did not affect either net worth or net income |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.