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 | 253.51 | 151.4 | 39.63 |
Gross profit (loss) | 545.1 | 281.1 | 93.92 | 414.8 | 31.41 |
Operational profit (loss) | 410.2 | 175.5 | 133.73 | 283.6 | 44.64 |
All figures are in (Millions) Saudi Arabia, Riyals |
Element | Current period | Similar period for previous year | % Change |
---|---|---|---|
Net profit (loss) | 362.8 | 151.4 | 139.63 |
Gross profit (loss) | 959.8 | 633.3 | 51.56 |
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. |
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