RABIGH REFINING AND PETROCHEMICAL CO (PETRO RABIGH) ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 30/06/2018 (6 MONTHS)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 235 | 316 | -25.63 | 296 | -20.61 |
| Gross profit (loss) | 664 | 635 | 4.57 | 772 | -13.99 |
| Operational profit (loss) | 333 | 409 | -18.58 | 396 | -15.91 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 531 | 76 | 598.68 |
| Gross profit (loss) | 1,436 | 700 | 105.14 |
| Operational profit (loss) | 729 | 241 | 202.49 |
| Earning or loss per share, Riyals | 0.61 | 0.09 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net profit during the current quarter compared with the same quarter last year is mainly due to the lower refined products margin. This was partially offset by improved petrochemical products sales prices and quantities. |
| Reasons of increase (decrease) for period compared with same period last year | The increase in net profit during the current period as compared with the same period last year was mainly due to higher petrochemical products sales prices and quantities. This was partially offset by lower refined products margin. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decrease in net profit during the current quarter as compared with the previous quarter is mainly due to lower refined products margin. |
| Reclassifications in quarterly financial results | Other income has been reclassified as part of Operating profit. |
| Other notes | 1.Sales in current quarter is SAR 10,743 million compared to SAR 8,844 million for similar quarter last year, resulting in an increase of 21%. The reason for the increase is due to higher sales prices and sales volume on petrochemical products and higher prices on refined products. 2.Sales in current period is SAR 20,599 million compared to SAR 15,546 million for similar period last year, resulting in an increase of 33%. 3.Total comprehensive income for the current quarter amounted to SAR 235 million, compared to total comprehensive income of SAR 316 million for the same quarter of last year, resulting in a decrease of 26%, and compared to total comprehensive income of SAR 296 million for the previousquarter, resulting in a decrease of 21%. 4.Total comprehensive income for the current period amounted to SAR 531 million, compared to total comprehensive income of SAR 76 million for the same period of last year, resulting in an increase of 599%. 5.The shareholders equity (There are no minority interests) as at the end of the period is SAR 10,326 million compared to SAR 8,523 million as at the end of the period last year with an increase of 21%. 6.There is no accumulated loss. 7.The External Auditor reviewed the financial statements and issued unmodified report. |
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