News

National Petrochemical Co. announces its interim Financial results for the period ending on 2018-12-31 ( Twelve Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue2,1832,1690.6452,297-4.962
Total Profit (Loss)447788-43.274736-39.266
Profit (Loss) Operational261605-56.859569-54.13
Net Profit (Loss) after Zakat and Tax236391-39.641307-23.127
Total Comprehensive Income254382-33.507307-17.263
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue8,9307,36421.265
Total Profit (Loss)2,6852,26418.595
Profit (Loss) Operational2,0091,62623.554
Net Profit (Loss) after Zakat and Tax1,16588831.193
Total Comprehensive Income1,18387934.584
Total Share Holders Equity (after deducting minority equity)7,7406,79713.873
Profit (Loss) per Share2.431.85
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous yearThe decrease in net profit during the current quarter compared with the same quarter of last year is attributable to:- A Decrease in company products prices during the current quarter.- Accelerated depreciation of some asset related to the Polystyrene unit for SAR 236 million during the current quarter.- Non-operating profit during the fourth quarter of last year as a result of reversing Zakat provision.Noting that the company has gained non-operating profit during the current quarter due to receiving insurance claim proceeds of SAR 187 million.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarterThe decrease in net profit during the current quarter compared to the previous quarter is attributable to:- A Decrease in company product prices during the current quarter.- Accelerated depreciation of some asset related to the Polystyrene unit for SAR 236 million during the current quarter.- Increase in general and administrative expenses.- Increase in financial cost.Noting that the company has gained non-operating profit during the current quarter due to receiving insurance claim proceeds of SAR 187 million.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous yearThe increase in net profit during the current period compared with the same period of last year is attributable to:- Increase of sales value due to the improved production rates and average selling prices.- Decrease in general and administrative expenses.- Increase in Other income.- Decrease in Zakat expenses.Despite the increase in selling and marketing expenses due to the increase in sales and an increase in financing cost.
Type of the external auditor’s opinionUnmodified opinion
Reclassifications in quarter financial resultCertain figures of the prior year have been re-classified to conform to the current period presentation.