Yanbu National Petrochemical Co.(YANSAB) announces the interim financial results for the period ending on 31-03-2017 (Three Months)

27 Apr 2017
ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CURRENT CHANGE PREVIOUS QUARTER % CHANGE PREVIOUS
NET PROFIT (LOSS) 608.2 421.7 44.23 609.1 -0.15
GROSS PROFIT (LOSS) 728.3 607.3 19.92 687 6.01
OPERATIONAL PROFIT (LOSS) 623.2 504.6 23.5 589.8 5.66           
Earning or loss per share, Riyals 1.08 0.75 - - -           


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 average sales prices for all products and increase in sales volume, despite the increase in feedstock materials average prices
Reasons of increase (decrease) for quarter compared with previous quarter The decrease in net profit is attributable to the decrease in sales volume and increase in some feedstock materials average prices, howevere, the increase in average sales prices for all of the products reduced the impact
OTHER NOTES The Sales for this quarter amounted to 1,758.5 MSAR compared to the same quarter last year 1,346.4 MSAR an increase of 30.6%.
The Total comprehensive income for the quarter amounted to 608.2 MSAR compared to the same quarter last year 399 MSAR an increase of 52.4%
The total shareholder's equity (no minority interest) for this period amounted to 15,818.6 MSAR compared to the same period last year 14,945.1 MSAR an increase of 5.8%.
The Company has adopted the International Financial Reporting Standards (IFRS) effective January 1, 2017. Accordingly, some changes in the Company's financial statements have been made in a number of items in the measurement, recognition, presentation and disclosure method for the current and comparative periods in accordance with the accounting policies adopted in accordance with the standards And other standards approved by the Saudi Organization for Certified Public Accountants. For further details, refer to Note 6 (First time adoption of IFRS) in the notes attached to the interim financial statements for the period ended 31 March 2017.

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