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Saudi Kayan Petrochemical Co. announces its interim Financial results for the period ending on 2018-12-31 ( Twelve Months )

21/01/2019

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue2,635.512,304.9314.3423,376.06-21.935
Total Profit (Loss)
273.54


155.5975.808929.48-70.57
Profit (Loss) Operational61.5211.62429.432761.53-91.921
Net Profit (Loss) after Zakat and Tax-110.9-220.32-49.664471.9-
Total Comprehensive Income-44.74-221.37-79.789471.43-

All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue12,263.159,983.9222.829
Total Profit (Loss)3,365.322,228.3851.02
Profit (Loss) Operational2,660.581,630.4863.177
Net Profit (Loss) after Zakat and Tax1,702.24668.17154.761
Total Comprehensive Income1,791.03656.7172.731
Total Share Holders Equity (after deducting minority equity)15,698.513,908.0412.873
Profit (Loss) per Share1.130.44

All figures are in (Millions) Saudi Arabia, Riyals

Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous yearThe reason of decrease in net loss during the current quarter is due to the improvement in the operating performance of company plants that contributed to increase in quantities produced and sold, despite the decrease in the average selling prices of the products which impacted the results of the current quarter, as well as the increase in the average feedstock price, administrative and general expenses selling and distribution and finance charges. It should be noted that some of the plants of the company stopped during the same quarter of the previous year for debottleneck projects and periodic maintenance scheduled as previously announced on Tadawul.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter

The reason of net loss for the quarter is mainly due to a decrease in the average selling prices of most products, lower quantities sold and increase administrative, general expenses and selling and distribution, which has impacted the company results and despite of improved operational performance and higher quantities produced.

Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year

The reason of increase in net profit is due to the improvement in the operating performance for most of the plants that contributed to increase in quantities produced and sold and increase of average selling prices, despite of increase in administrative and general expenses selling and distribution and Finance charges.

Type of the external auditor's opinion

Unmodified opinion
Reclassifications in quarter financial resultCertain previous period expenses have been re-classified to conform to the presentation of financial statements in the current period.