Saudi Kayan Petrochemical Co. announces it Annual financial results ending on 2018-12-31

21 February 2019 03:13 PM

SAUDI KAYAN 2350 -13.77% 9.02 -1.44

Element List	Current Year	Previous Year	%Change
Sales/Revenue	12,263.15	9,983.92	22.829
Total Profit (Loss)	3,365.32	2,228.38	51.02
Profit (Loss) Operational	2,660.58	1,630.48	63.177
Net Profit (Loss) after Zakat and Tax	1,702.24	668.17	154.761
Total Comprehensive Income	1,790.89	656.7	172.71
Total Share Holders Equity (after deducting minority equity)	15,698.36	13,908.04	12.872
Profit (Loss) per Share	1.13	0.44
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current year compared to last year	The reason of increase in net profit is due to the improvement in the operating performance for most of the plants that contributed to increase in quantities produced and sold and increase of average selling prices, despite of increase in administrative and general expenses selling and distribution and Finance charges.
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in annual financial results	Certain previous period expenses have been re-classified to conform to the presentation of financial statements in the current year.
Additional Information	From January 1, 2018, the Company has adopted IFRS 9 and IFRS 15 with no material impact on the annual financial statements. Note that the Company will adopt IFRS No. 16 starting on January 1, 2019

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