07 Feb 2016
ELEMENT CURRENT YEAR PREVIOUS YEAR % CHANGE
NET PROFIT (LOSS) -1,243.01
 -44.71
-2,680.16
EARNING OR LOSS PER SHARE, RIYALS -0.83
 -0.03
-
GROSS PROFIT (LOSS) -209.04
 975.6
-
OPERATIONAL PROFIT (LOSS) -593.53
 522.78
 -

All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT EXPLANATION
Reasons of annual financial results The increase in net losses during the current period as compared to the same period last year is due to a decrease in production and sales volumes associated with the first quarter scheduled turnaround which was announced on Tadawul on Feb. 1, 2015. Other contributing factors to the net losses include a decrease in average selling prices, creating a provision for slow moving and dormant spare parts inventory for the plants, increase in financial charges and zakat provision. The net losses incurred despite decrease in feedstock costs, decrease in marketing fees from SABIC and selling, general and administrative expenses.
Reclassifications in annual financial results Certain amounts have been reclassified to conform to the presentation of current period.

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Saudi Kayan Petrochemical Company issued this content on 07 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 February 2016 13:59:44 UTC

Original Document: http://www.saudikayan.com.sa/en/news/2016/20160207--Saudi-Kayan-Petrochemical-Co-announces-the-annual-financial-results-for-the-period-ending-.aspx