Petrochemical company announces the interim financial results for the period ending on 30-06-2015 (nine months)
· Issued by Yanbu National Petrochemical Co.
15 Oct 2015
ELEMENT
CURRENT QUARTER
SIMILAR QUARTER FOR PREVIOUS YEAR
% CHANGE CURRENT
PREVIOUS QUARTER
% CHANGE PREVIOUS
NET PROFIT (LOSS)
301.7
691.3
-56.36
227.4
32.67
GROSS PROFIT (LOSS)
434.6
844.8
-48.56
373
16.51
OPERATIONAL PROFIT (LOSS)
381.4
748.5
-51.38
316.4
20.54
ELEMENT
CURRENT PERIOD
SIMILAR PERIOD FOR PREVIOUS YEAR
% CHANGE
NET PROFIT (LOSS)
815.3
1,869
-56.22
GROSS PROFIT (LOSS)
1,220.4
2,313.8
-47.26
OPERATIONAL PROFIT (LOSS)
1,061.8
2,130.5
-50.16
EARNING OR LOSS PER SHARE, RIYALS
1.45
3.31
-
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
EXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
The decrease in net profit is attributable to lower average sales prices for all of the products. despite lower prices of some feedstock materials and decrease in financial charges. Noting that there is an increase in zakat provision.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEAR
The decrease in net profit is attributable to lower production and sales volume resulted from turnaround activities during 2nd Q of 2015 as announced in Tadawul on 31st May 2015 and due to lower average sales prices for all of the products, despite lower prices of some feedstock materials and decrease in financial charges. Noting that there is an increase in zakat provision.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER
The increase in net profit is attributable to higher production and sales volume resulted from normal operation after completion of turnaround activities during 2nd Q 2015 as announced in Tadawul on 31st May 2015, despite decrease in average sales prices for all of the products.
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS
Certain amounts have been reclassified to conform to the presentation of current period.
