Petrochemical co. announces the interim financial results for the period ending on 310-06-2016 (six months)
· Issued by Yanbu National Petrochemical Co.
28 Jul 2016
ELEMENT
CURRENT QUARTER
SIMILAR QUARTER FOR PREVIOUS YEAR
% CURRENT CHANGE
PREVIOUS QUARTER
% CHANGE PREVIOUS
NET PROFIT (LOSS)
689.3
227.4
203.12
401.9
71.51
GROSS PROFIT (LOSS)
795.2
373
113.19
521.3
25.54
OPERATIONAL PROFIT (LOSS)
738
316.4
133.25
473.8
55.76
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
CURRENT PERIOD
SIMILAR PERIOD FOR PREVIOUS YEAR
% CHANGE
NET PROFIT (LOSS)
1,091.2
512.5
-112.92
GROSS PROFIT (LOSS)
1,316.5
785.8
67.54
OPERATIONAL PROFIT (LOSS)
1,211.7
680.4
78.09
EARNING OR LOSS PER SHARE, RIYALS
1.94
0.91
-
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
EXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
The increase in net profit is attributable to the increase in production and sales volumes due to the completion of turnaround activities during 2nd Quarter 2015 as announced in Tadawul, on 31st May 2015 in addition to the reduction in some of feedstock prices although lower average sales prices for majority of the products.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEAR
The increase in net profit is attributable to the increase in production and sales volumes due to the completion of turnaround activities during 2nd Quarter 2015 as announced in Tadawul, on 31st May 2015 in addition to the reduction in some of feedstock prices despite the decrease in sales prices for majority of the products.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER
The increase in net profit is attributable to higher average sales prices for majority of the products in addition to higher production and sales volumes.
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS
Certain amounts have been reclassified to conform to the presentation of current period
