Saudi International Petrochemical Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)
Wednesday, April 25, 2018
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ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 151.4 91.7 65.1 164.4 -7.91
Gross profit (loss) 414.8 352.3 17.74 425.7 -2.56
Operational profit (loss) 283.6 230.7 22.93 275 3.13
Earning or loss per share, Riyals 0.41 0.25 - - -
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
Reasons of increase (decrease) for quarter compared with previous quarter Revenue slightly decreased compared to the previous quarter primarily due to lower sales volumes attributed to unscheduled shutdowns in Diol plant and Acidic Acid plant
Reclassifications in quarterly financial results All the reported figures are as per IFRS.
Other notes Gross Sales reached SR. 1,170.9 million during current quarter compared to SR 1,190.0 million for the same quarter of the previous year reflecting a marginal decrease of 2.3%. Gross Sales reached SR. 1,170.9 million during current quarter compared to SR 1,278.6 million for the previous quarter of the previous year reflecting a decrease of 8.4%.

Total comprehensive income for the quarter amounted to is SR. 151.5 million compared to the similar quarter last year of SR. 93.0 million reflecting an increase by 63%

Total Shareholders' equity (excluding minority interests) reached 5.9 billion Riyals during the current quarter ended 31 March 2018 compared to 5.7 billion Riyals for the previous year ended 31 December 2017.reflecting and increase by 3%