Saudi Kayan Petrochemical announces the interim financial results for the period ending on 31-12-2014 (twelve months)
· Issued by Saudi Kayan Petrochemical Co.
The reason for the increase net profit during current quarter compared with the same quarter last year is due to decrease in the feedstock prices , decrease in Zakat provision and increase in the other incomes associated with foreign currency exchange gains . However, there was a decline in average selling prices and sales quantity for most of the company products during the current quarter.Also, there was an increase in selling, general and administrative expenses and increase in financial charges.
