Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year |
The increase in net profit is attributable to the increase in average sales prices of Titanium Dioxide products , despite the impact of an impairment charge to non-current assets by one of the subsidiaries, increase in other expenses as a result of recording a provision to fund the liabilities of one of the companies in Acrylic complex, increase in financial charges and Zakat and income tax provisions. |
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter |
The increase in net profit is attributable to the increase in average sales prices of Titanium Dioxide products and the increase in company's share of net profit from associates and joint ventures due to increase in average sales prices for certain petrochemical products, despite the impact of an impairment charge to non-current assets by one of the subsidiaries, higher selling general & admin expenses, increase in other expenses as a result of recording a provision to fund the liabilities of one of the companies in Acrylic complex and increase in Zakat and income tax provisions |
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year |
Major factors for reduction in net profit are decrease in sales volume and average sales prices of Titanium Dioxide products; impact of an impairment charge to non-current assets by one of the subsidiaries; increase in other expenses as a result of recording a provision to fund the liabilities of one of the companies in Acrylic complex and the increase in financial charges and Zakat and income tax provisions. |
Type of the external auditor's opinion |
Unmodified opinion |
Reclassifications in quarter financial result |
Certain corresponding figures for the last year have been reclassified to be aligned with presentation of the current period. |
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