SAUDI KAYAN PETROCHEMICAL COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-12-2013 (TWELVE MONTHS)
23 Jan 2014
ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CURRENT CHANGE PREVIOUS QUARTER % CHANGE PREVIOUS
NET PROFIT (LOSS) 3.42 -194.45 - 43.27 -92.1
GROSS PROFIT (LOSS) 258.8 38.99 563.76 304.95 -15.13
OPERATIONAL PROFIT (LOSS) 154.58 -67.49 - 198.2 -22.01
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
NET PROFIT (LOSS) -346.41 -772.27 55.14
GROSS PROFIT (LOSS) 602.33 151.61 297.29
OPERATIONAL PROFIT (LOSS) 235.49 -178.84 -
EARNING OR LOSS PER SHARE, RIYALS -0.23 -0.52 -

All figures are in (Millions) Saudi Arabia, Riyals


ELEMENT EXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR The reasons for realizing net profit during Q4 compared with same quarter last year was due to the improvement in the average selling prices for most of the company products, a decrease in the cost of sales as a result of a decrease in the sales volume noting that there was an increase in the production quantity and also there was an increase in zakat provision.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEAR The decrease in net losses during 12 months period compared to the same last year was due to improvement in the average selling prices for most of the company products , an increase in the sales volume and a decrease in the financial charges noting that there is an increase in zakat provision.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER The decrease in net profit during Q4 compared with previous quarter is due a decrease in the sales volume and an increase in the cost of feedstock noting that there was an increase in production quantity during current quarter.
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS N/A
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