Advanced Petrochemical Company (Advanced) announces interim financial results for the period ended 30/09/2013:
1. Net profit during the Q3-2013 was SR 140.96 million compared to SR 100.26 million for the same quarter last year with an increase of 40.59% and compared to 136.67 million for the previous quarter with an increase of 3.14%.
2. Gross profit during the Q3-2013 was SR 154.12 million compared to SR 114.76 million for the same quarter last year with an increase of 34.30%.
3. Income from operation during the Q3-2013 was SR 143.53 million compared to SR 105.51 million for the same quarter last year with an increase of 36.03%.
4. Net profit during 9 months was SR 395.57 million compared to SR 211.23 million for the same period last year with an increase of 87.27%.
5. Earnings per share during 9 months was SR 2.41 compared to SR 1.29 for the same period last year.
6. Gross profit during 9 months was SR 437.49 million compared to SR 251.97 million for the same period last year with an increase of 73.63%.
7. Income from operation during 9 months was SR 405.41 million compared to SR 224.23 million for the same period last year with an increase of 80.80%.
8. The reasons for the increase in net income of Q3-2013 compared to Q2-2012 are mainly due to the increase in sales quantities and decrease in feedstock prices.
9. The reasons for the increase in net income during 9 months of year 2013 compared to the same period last year are mainly due to the increase in sales quantities and decrease in feedstock prices.
10. The reasons for the increase in net income of Q3-2013 compared to the Q2-2013 are Higher selling prices.
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