National Industrialization Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 395.8 | 93.6 | 322.86 | 361.4 | 9.52 |
| Gross profit (loss) | 870.8 | 425 | 104.89 | 818 | 6.45 |
| Operational profit (loss) | 785.8 | 327.2 | 140.16 | 692.3 | 13.51 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 757.2 | 196.9 | 284.56 |
| Gross profit (loss) | 1,688.8 | 851.9 | 98.24 |
| Operational profit (loss) | 1,478.1 | 667.7 | 121.37 |
| Earning or loss per share, Riyals | 1.13 | 0.29 | - |
| 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 is attributable to the increase in average sales prices of Titanium Dioxide products and lower financial charges also, increase in companys share of net profit from associates and joint ventures which resulted from increase in average sales prices for certain petrochemical products, despite the higher selling , general & admin expenses and the increase of Zakat and income tax provision also the decrease in other income |
| Reasons of increase (decrease) for period compared with same period last year | The increase in net profit is attributable to the increase in average sales prices of Titanium Dioxide products and lower financial charges also, increase in companys share of net profit from associates and joint ventures which resulted from increase in average sales prices for certain petrochemical products, despite the higher selling , general & admin expenses and the increase of Zakat and income tax provision also the decrease in other income |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase in net profit is attributable to the improved operating performance and the increase in companys share of net profit from associates and joint ventures which resulted from increase in average sales prices for certain petrochemical products, despite the increase in zakat provision and the decrease in other income. |
| Reclassifications in quarterly financial results | Certain corresponding figures for the last year have been reclassified to be aligned with presentation of the current period. |
| Other notes | The revenue for the quarter ended 30 June, 2018 amounted to SAR 2.99 billion compared to the same quarter last year of SAR 2.67 billion an increase of 12%, The revenue for the period ended 30 June, 2018 amounted to SAR 5.81 billion compared to the same period last year of SAR 5.15 billion an increase of 13%. Total comprehensive income for the current quarter amounted to is SAR 231.2 million compared to 62.9 million for the similar quarter last year increased by 268% and SAR 403.6 million for the last quarter decreased by 42.7%, also total comprehensive income for the current period amounted to is SAR 634.8 million compared to 291.1 million for the similar period last year increased by 118%. The total shareholders equity (before non-controlling interest ) at 30 June 2018 amounted to SAR 9.05 billion compared to SAR 7.62 billion at the similar period last year increased by 18.3%. The company has adopted the International Financial Reporting Standards (IFRS) effective January 1, 2017. The External Auditor reviewed the financial statements and issued unmodified report. |
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