| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
-
|
7.03
|
-
|
-
|
| Gross profit (loss) |
-
|
-
|
65.52
|
7.42
|
-
|
| Operational profit (loss) |
-
|
-
|
23.47
|
-
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
-
|
-
|
6.09 |
| Gross profit (loss) |
10.38
|
40.36
|
- |
| 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 decline in gross loss in current quarter by SR 7 Mn which is 66% compared to same quarter of previous year is mainly attributed to improvement of cost of sales despite of the increases in Natural Gas and Electricity. The operating loss decreased by SR 8.4 MN which is 23 % in comparison to same quarter of the previous year is due to improvement of cost of sales. The decline in Net Loss in current quarter by 3 Mn which is 7% as compared to same quarter of previous year is attributed to reduction in operating losses which offseted by increase in financing charges due to restructure loan margin. On overall basis the losses attributed to the fall in product prices |
| Reasons of increase (decrease) for period compared with same period last year | The Company Loss decreased in current period by SR 4.8 Mn which is 6% as compared with the previous period of last year mainly due to recorded Insurance claim of 29 Mn |
| Reasons of increase (decrease) for quarter compared with previous quarter | The Company Loss increased in Q3 2016 by SR 36.3 Mn which is 1015% as compared with the previous quarter of same year mainly due to recording of Insurance claim settlement in Q2 2016 against Para plant limited Fire happened during Q3 2014 for SR 29 Mn.And drop in sales by SR (35) Mn which is (22)% due to fall in sales prices. |
| External auditor's report containing reservation | Refer to note 7 to accompanying interim financial statements, which outlines the impact of the restatement of the comparative financial information related to certain items of property, plant and equipment which were earlier classified as inventories and recording of related depreciation of such items. |
| 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 |
| Other notes | The revenue of the current quarter is SR 123.6 Mn compared to SR 174.2 Mn for the same quarter last year with decrease of (29)%. Due to fall in Sales prices of major downstream products of the company. 2- The revenue of the current period is SR 441 Mn compared to SR 567 Mn for the same period last year with decrease of (22)%. Due to fall in Sales prices of major downstream products of the company. 3- Total Equity as of current period is SR 1.32 Bn compared to SR 1.46 Bn for the same period last year with a decrease of (9)% (there is no Minority interest ). 4- Earning per share for current period is (0.62) compared to (0.66) for the same period last year |
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