Saudi Kayan Petrochemical Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

22 July 2018 03:14 PM

SAUDI KAYAN 2350 -13.77% 9.02 -1.44

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	878.65	242	263.08	462.58	89.95
Gross profit (loss)	1,300.66	582.69	123.22	861.63	50.95
Operational profit (loss)	1,116.45	438.87	154.39	721.06	54.83
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	1,341.24	507.46	164.3
Gross profit (loss)	2,162.29	1,291.84	67.38
Operational profit (loss)	1,837.52	994.84	84.71
Earning or loss per share, Riyals	0.89	0.34	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The reason for increase in net profit is due to improvement in operating performance for most of the plants that contributed to increase in quantities produced and sold, in addition to increase in the average selling prices of products, despite of increase in average feedstock price.
Reasons of increase (decrease) for period compared with same period last year	The reason for increase in net profit is due to improvement in operating performance for most of the plants that contributed to increase in quantities produced and sold, in addition to increase in the average selling prices of products, despite of increase in average feedstock price.
Reasons of increase (decrease) for quarter compared with previous quarter	The reason for increase in net profit is due to improvement in operating performance for most of the plants that contributed to increase in quantities produced and sold for company products and increase in the average selling prices of products and in addition to decrease in average feedstock price.
Reclassifications in quarterly financial results	Certain previous period expenses have been re-classified to conform to the presentation of financial statements in the current period.
Other notes	- Sales revenues for the quarter ended 30 June 2018 amounted to SR 3,524 million representing an increase of 53% compared to sales revenues for the same quarter of the previous year, which amounted to SR 2,309 million. - Sales revenues for the period ended 30 June 2018 amounted to SR 6,252 million representing an increase of 26% compared to sales revenues for the same period of the previous year which amounting to SR 4,976 million. - Total shareholders 'equity (no minority interest) as of 30 June 2018 amounted to SR 15,272 million representing an increase of 11% compared to shareholders' equity for the same period last year which amounted to SR 13,759 million. - Total comprehensive income for the quarter ended 30 June 2018 amounted to SR 879 million representing an increase of 263% compared to total comprehensive income for the same quarter of the previous year, which amounted to SR 242 million and compared to the previous quarter of SR 485 million representing an increase of 81%. - Total comprehensive income for the period ended 30 June 2018 amounted to SR 1,364 million representing an increase of 169% compared to total comprehensive income for the same period of the previous year, which amounted to SR 507 million. - The accumulated losses as of 30 June 2018 amounted to SR 398 million which represents 2.6% of the share capital, decrease of 69% compared to the accumulated losses of the for the previous quarter amounting to SR 1,277 million. - The External Auditor reviewed the financial statements and issued unmodified report.

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