Mubasher TV
Contact Us Advertising   العربية

RABIGH REFINING AND PETROCHEMICAL CO (PETRO RABIGH) ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-3-2018 (THREE MONTHS)

PETRO RABIGH 2380 -25.85% 7.40 -2.58
Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 296 -240 - 641 -53.82
Gross profit (loss) 772 65 1,087.69 894 -13.65
Operational profit (loss) 396 -168 - 636 -37.74
Earning or loss per share, Riyals 0.34 -0.27 - - -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The increase in net profit for the current quarter, compared with same quarter last year was due to improved plant operations & stable production partially offset by lower refinery margins, resulting in sales volumes have been higher in Q1 2018. Also, Q1 2017 witnessed the ASU shutdown which had an impact on all plants.
Reasons of increase (decrease) for quarter compared with previous quarter The decrease in net profit for the current quarter compared to previous quarter is due to a lower refinery margin in Q1 2018. In addition, Q1 2018 witnessed lower sales volumes on Petrochemicals products.
Other notes 1.Sales in current quarter is SAR 9,856 million compared to SAR 6,702 million for similar quarter last year, resulting in an increase of 47%. The reason for the increase is due to improved plant operations & stable production.2.Total comprehensive income for the current quarter amounted to SAR 296 million compared to Total comprehensive loss of SAR 240 million for the similar quarter of last year and compared to total comprehensive income of SAR 625 million in previous quarter representing a decrease of 53%.3Earnings per share amounted to SAR 0.34 during the current quarter, compared to loss per share of SAR 0.27 for the same quarter of last year and earning per share of SAR 0.73 during the previous quarter.4.The shareholders equity (There are no minority interests) as at the end of the period is SAR 10,461 million compared to SAR 8,164 million as at the end of the period last year with an increase of 28%.

Comments