| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
-
|
36.87
|
-
|
4.64
|
| Gross profit (loss) |
6.01
|
-
|
-
|
-
|
-
|
| Operational profit (loss) |
-
|
-
|
57.94
|
-
|
16.54
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
-
|
-
|
19.35 |
| Gross profit (loss) |
15.14
|
18.46
|
- |
| Operational profit (loss) |
-
|
-
|
6.98 |
| 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 Company Loss decreased in current period as compared with the previous period of last year is due to improvement in operating expenses as a result of cost reduction program implemented by the company and also due to settlement and reversal of a supplier price difference provision, and furthermore the recorded final settlement of the insurance claim against Para plant fire which was announced on Tadawul website during Q2 of the current year. Loss has decreased despite increase in feedstock and energy prices and increase in zakat provision. On overall, company loss is attributable to decline in sales as a result of declining prices on the international markets. |
| Reasons of increase (decrease) for period compared with same period last year | The Company Loss decreased in current period as compared with the previous period of last year is due to improvement in operating expenses as a result of cost reduction program implemented by the company and also due to settlement and reversal of a supplier price difference provision, and furthermore the recorded final settlement of the insurance claim against Para plant fire which was announced on Tadawul website during Q2 of the current year. Loss has decreased despite increase in feedstock and energy prices and increase in zakat provision. On overall, company loss is attributable to decline in sales as a result of declining prices on the international markets. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The Company Loss decreased in Q4 2016 as compared with the previous quarter of same year is due to improvement of sales and the company program for cost optimization, and also due to settlement and reversal of supplier price difference in current quarter despite increase in zakat provision. |
| 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.elated 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 | 1-The revenues of the current quarter is SR 155.2 Mn compared to SR 166.3 Mn for the same quarter last year with decrease of (7)% due to fall in sales prices of major downstream products of the company. 2-The revenues of the current period is SR 595 Mn compared to SR 733 Mn for the same period last year with decrease of (19)% due to fall in sales prices of major downstream products of the company. 3-Total Equity as of current period is SR 1.28 Bn compared to SR 1.4 Bn for the same period last year with a decrease of (8) % (there is no Minority interest). 4-Earnings per share for current period is (0.94) |
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