| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
208.41
|
189.1
|
10.21
|
194.51
|
7.15
|
| Gross profit (loss) |
221.95
|
225.65
|
-
|
220.13
|
0.83
|
| Operational profit (loss) |
195.36
|
196.67
|
-
|
192.07
|
1.71
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
527.28
|
524.07
|
0.61 |
| Gross profit (loss) |
585.33
|
629.51
|
- |
| Operational profit (loss) |
504.42
|
539.47
|
- |
| Earning or loss per share, Riyals |
2.68
|
2.66
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Net profit is increased due to increase in share in profit on equity investment in SK Advanced Co. Ltd. (associated company) and no impairment losses on available for sale investments in Q3 2017 compared to Q3 2016. |
| Reasons of increase (decrease) for period compared with same period last year | The net profit is slightly increased due to increase in share in profit on equity investment in SK Advanced Co. Ltd. (associated company) and no impairment losses on available for sale investments for YTD 2017 compared to YTD 2016 despite the reduction in operational profit due to reduction in sales quantities as a result of planned shut down in Q1 2017 for proactive efficiency improvement activities and increase in feedstock prices (propane & outsourced propylene). |
| Reasons of increase (decrease) for quarter compared with previous quarter | The net profit is increased mainly due to increase in share in profit on equity investment in SK Advanced Co. Ltd. (associated company) while operating profit is in line with Q2 2017. |
| Other notes | - Q3 2017 net profit also includes SR 23.79 million share of profit on equity investment in SK Advanced Co. Ltd. (Q3 2016: SR 14.27 million). - The sales revenue for the quarter ended September 30, 2017 amounted to SR 616.41 million, an increase of 16.63% compared to the same quarter last year of SR 528.53 million. The sales revenue for the period ended September 30, 2017 is SR 1,747.06 million, an increase of 11.78% compared to same period last year of SR 1,563.0 million. - The total comprehensive income for the quarter ended September 30, 2017 amounted to SR 266.79 million, an increase of 40.10% compared to same quarter last year of SR 190.43 million and an increase by 510.90% compared to previous quarter of SR 43.67 million. The total comprehensive income for the nine-month period ended September 30, 2017 amounted to SR 468.0 million, a decrease of 27.08% compared to same period last year of SR 641.78 million. - The total equity (no minority interest) as at September 30, 2017 is SR 3,091.18 million compared to equity of SR 2,790.18 million at September 30, 2016 with increase of 10.79%. - Advanced has adopted the International Financial Reporting Standards (IFRS) effective January 1, 2017. Accordingly, some changes in the Group's financial statements have been made in a number of items in the measurement, recognition, presentation and disclosure method for the current and comparative periods in accordance with the accounting policies adopted in accordance with IFRS and other standards endorsed by the Saudi Organization for Certified Public Accountants. |
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.