Saudi Kayan Petrochemical announces the interim financial results for the period ending on 31-03-2014 (three months)
· Issued by Saudi Kayan Petrochemical Co.
SAUDI KAYAN PETROCHEMICAL COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-03-2014 (THREE MONTHS)
21 Apr 2014
ELEMENT
CURRENT QUARTER
SIMILAR QUARTER FOR PREVIOUS YEAR
% CURRENT CHANGE
PREVIOUS QUARTER
% CHANGE PREVIOUS
NET PROFIT (LOSS)
9.94
-154.87
-
3.42
190.64
GROSS PROFIT (LOSS)
257.05
58.73
337.68
258.8
-0.68
OPERATIONAL PROFIT (LOSS)
157.59
-10.73
-
154.58
1.95
EARNING OR LOSS PER SHARE, RIYALS
0.01
-0.1
-
-
-
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
EXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
The reasons for realizing net profit during Q1 compared with same quarter last year was due to higher production and sales volume despite a decrease in average sales prices noting that there was a shutdown in the same quarter last year as announced in Tadawul 2013/01/26.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER
Increase in net profit is attributable to higher sales volume, a decrease in general and administrative expenses. Noting that there was a decrease in the average sales price.
