THIS SITE USES COOKIES

The cookie settings on this website are set to 'allow all cookies' to give you the very best experience. If you continue without changing these settings, you consent to this - but if you want, you can change your settings at any time at the bottom of this page.



Saudi Kayan Petrochemical Co. announces it Annual financial results ending on 2018-12-31

21/02/2019

Element ListCurrent Yearprevious year%Change
Sales/Revenue12,263.159,983.9222.829
Total Profit (Loss)
3,365.32


2,228.3851.02
Profit (Loss) Operational2,660.581,630.4863.177
Net Profit (Loss) after Zakat and Tax1,702.24668.17154.761
Total Comprehensive Income1,790.89656.7172.71
Total Share Holders Equity (after deducting minority equity)15,698.3613,908.0412.872
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 year compared to last 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.

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.

Type of the external auditor's opinion

Unmodified opinion
Reclassifications in quarter financial result

Certain previous period expenses have been re-classified to conform to the presentation of financial statements in the current year.

Additional InformationFrom January 1, 2018, the Company has adopted IFRS 9 and IFRS 15 with no material impact on the annual financial statements. Note that the Company will adopt IFRS No. 16 starting on January 1, 2019 .