SAUDI KAYAN PETROCHEMICAL COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 30-09-2014 (NINE MONTHS)
20 Oct 2014
| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CURRENT CHANGE | PREVIOUS QUARTER | % CHANGE PREVIOUS |
| NET PROFIT (LOSS) |
66.91 | 43.27 |
54.63 |
-133.09 |
- |
| GROSS PROFIT (LOSS) |
314.81 |
304.95 |
3.23 | 124.17 |
153.53 |
| OPERATIONAL PROFIT (LOSS) |
203.92 |
198.2 |
2.89 |
4.85 | 4,104.54 |
| ELEMENT | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
| NET PROFIT (LOSS) | -65.24 |
-349.83 |
81.53 |
| GROSS PROFIT (LOSS) |
696.03 |
343.53 | 102.61 |
| OPERATIONAL PROFIT (LOSS) |
366.36 | 80.91 |
352.8 |
| EARNING OR LOSS PER SHARE, RIYALS |
--0.04 | -0.23 | - |
All figures are in (Millions) Saudi Arabia, Riyals
| ELEMENT | EXPLANATION |
| REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR | The increases in profit during Q3 compared with same quarter last year was due to the increase in the average selling prices & an increase in other income attributed mainly from foreign currency exchange gains. |
| REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEAR | The decrease in losses is due to increase in the production & sales volume, increase in the average selling prices. During the same period of last year, the Company had shutdowns for some of the production units due to scheduled periodic maintenance as announced in Tadawul site on 26/1/2013. |
| REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER | The improvement in financial results during Q3 compared with previous quarter is due to the increase in the sales volume, an increase in the average selling prices, a decrease in the feedstock cost , a decrease in Selling ,general and administrative expenses & an increase in other income attributed mainly from foreign currency exchange gains |
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