Saudi International Petrochemical Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)
Wednesday, October 25, 2017
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ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 121.6 -49.4 - 59.8 103.34
Gross profit (loss) 367​ 128.2 186.27 281.1 30.56
Operational profit (loss) 253.5 31.6 702.22 175.5 44.44
All figures are in (Millions) Saudi Arabia, Riyals

 

ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 273 11.2 2,337.5
Gross profit (loss) 1,000.4 612.3 63.38
Operational profit (loss) 659.7 303.1 117.65
Earning or loss per share, Riyals 0.74 0.03 -
All figures are in (Millions) Saudi Arabia, Riyals

 

ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net Profit increased compared to the same quarter last year primarily due to increase in average selling prices and sales volumes for most of products.
Reasons of increase (decrease) for period compared with same period last year Net Profit increased compared to the same period last year primarily due to increase in average selling prices and sales volumes for most of products
Reasons of increase (decrease) for quarter compared with previous quarter Net Profit increased compared to the previous quarter current year primarily due to increase in average selling prices and sales volumes for some of products.
Reclassifications in quarterly financial results All the reported figures are as per IFRS. Comparative figures have been restated based on IFRS transition effective 01 January 2016.
Other notes 1.Gross Sales reached SR. 3.18 billion during the current period compared to SR. 2.57 billion for the same period of the previous year reflecting an increase of 24.0%. Gross Sales reached SR. 1 billion during current quarter compared to SR 717.8 million for the same quarter of the previous year reflecting increase of 48.2%. 

2.Total comprehensive income for the period amounted to SR. 272.5 million compared to the similar period last year of SR. 10.4 million. 

3.Total comprehensive income for the quarter amounted to is SR. 122.5 million compared to the similar quarter last year of SR. (49.6) million and compared to previous quarter of SR. 59.8 million reflecting an increase of 347%.

4.Total Shareholders' equity (excluding minority interests) reached 5.5 billion Riyals during the current period ended 30 September 2017 compared to 5.3 billion SR for the previous year ended 31 December 2016.

5.Total Sipchem share of IDC net profit (loss) for the current period reaches SR. (28.1) million compared to SR. (39.7) million for the same period of last year reflecting a decrease in losses by 29%. For the current quarter, Sipchem profit share of IDC is SR. 4.3 million comparing to net loss of SR. (11.8) million for the same quarter last year reflecting an increase of 136%.