Sipchem announces the Interim Financial Results for the Period Ending on 30 June 2018
Wednesday, July 25, 2018
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Saudi International Petrochemical Company (Sipchem) announces the Interim Financial Results for the Period Ending on 30 June 2018 (Six Months)

 

ELEMENT

CURRENT QUARTER

SIMILAR QUARTER FOR PREVIOUS YEAR

% CHANGE CURRENT

PREVIOUS QUARTER

% CHANGE PREVIOUS

 

Net profit (loss)

211.4

59.8

253.5%

151.4

39.6%

 

Gross profit (loss)

545.1

281.1

93.9%

414.8

31.4%

 

Operational profit (loss)

410.2

175.5

133.7%

283.6

44.6%

 

All figures are in (Millions) Saudi Arabia, Riyals

 

 

 

ELEMENT

CURRENT PERIOD

SIMILAR PERIOD FOR PREVIOUS YEAR

% CHANGE

 

 

Net profit (loss)

362.8

151.4

139.6%

 

 

Gross profit (loss)

959.8

633.3

51.6%

 

 

Operational profit (loss)

693.8

406.2

70.8%

 

 

Earning or loss per share, Riyals

0.99

0.41

-

 

 

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 during current quarter compared to the same quarter last year due to the increase in Revenue as a result of the increase in average selling prices of all company’s products in addition to the increase in sales volumes.

 

Reasons of increase (decrease) for period compared with same period last year

Net Profit increased during current period compared to the same period last year due to increase in Revenue as a result of the increase in average selling prices of all company’s products.

 

Reasons of increase (decrease) for quarter compared with previous quarter

Net Profit increased during current quarter compared to the previous quarter due to the increase in Revenue as a result of the increase in average selling prices of most of the company’s products.

 

Other notes

  1. Revenue during current quarter amounted to SR 1,474.5 million compared to SR 918.3 million for same quarter last year with an increase of 60.6% and compared to SR 1,170.9 million for the previous quarter with an increase of 25.9%.
  2. Total Comprehensive Income during current quarter amounted to SR 210.9 million compared to SR 59.7 million for same quarter last year with an increase of 253.3% and compared to SR 151.5 million for previous quarter with an increase of 39.2%.
  3. Revenue during current period amounted to SR 2,645.4 million compared to SR 2,117.3 million for same period last year with an increase of 24.9%.
  4. Total Comprehensive Income during current period amounted to SR 362.4 million compared to SR 149.9 million for same period last year with an increase of 141.7%.
  5. Total Shareholders’ Equity (excluding non-controlling interests) as at 30 June 2018 amounted SR 5,883.9 million compared to SR 5,414.3 million as at 30 June 2017 with an increase of 8.7% and compared to SR 5,702.7 million as at 31 December 2017 with an increase of 3.2%.
  6. The External Auditors reviewed the Financial Statements and issued an unmodified report.