Yanbu National Petrochemical Co. announces the interim financial results for the period ending on 31-12-2016 (Twelve Months)

15 Jan 2017
ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
NET PROFIT (LOSS)602.85
393.0653.37607.5-0.77
GROSS PROFIT (LOSS)676.86537.1926704.3-3.9
OPERATIONAL PROFIT (LOSS)618.53478.2129.34656.4-5.77           

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
NET PROFIT (LOSS)2,301.6 
1,207.3290.64
GROSS PROFIT (LOSS)2,697.711,757.5953.49
OPERATIONAL PROFIT (LOSS)2,486.731,540.0661.47
EARNING OR LOSS PER SHARE, RIYALS4.092.15-        

All figures are in (Millions) Saudi Arabia, Riyals 

ELEMENTEXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEARThe increase in net profit is attributable to the increase in average sales prices for some of the products and decrease in slow movement spare parts provision,despite the increase in some of feedstock materials prices as announced in tadawual on 25th Feb 2016. Noting that there is an increase in Murabaha investment return and decrease in financial charges
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEARThe increase in net profit is attributable to the decrease to cost of sales mainly due to lower prices of some feedstock materials as announced in tadawul on 25th Feb 2016. in addition to the higher production and sales volumes resulted from completion of turnaround activities during 2Q of 2015 as announced in Tadawul on 31st May 2015.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTERThe decrease in net profit is attributable to the increase in average prices of feedstock materials as announced in Tadawual on 25th Feb 2016 , despite the increase in average sales prices for some of the products.
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTSCertain amounts have been reclassified to conform to the presentation of current period
OTHER NOTESThe Sales for this quarter amounted to 1,849.29 MSAR compared to the same quarter last year 1,831.05 MSAR an increase of 1%.
The Sales for this period amounted to 6,970.75 MSAR compared to the same period last year 6,911.41 MSAR an increase of 0.86%.
The total shareholder's equity (no minority interest) for this period amounted to 16,245.94 MSAR compared to the same period last year 15,351.99 MSAR an increase of 5.8%.

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