National Petrochemical Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

Gross Profit (Loss)1,8762,685-30.13
Operational Profit (Loss)1,2792,009-36.336
Net Profit (Loss) after Zakat and Tax6741,165-42.145
Total Comprehensive Income6481,184-45.27
Total Share Holders Equity (after Deducting Minority Equity)8,1487,7405.271
Profit (Loss) per Share1.412.43
All figures are in (Millions) Saudi Arabia, Riyals

Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed toThe decrease in net profit during the current year compared with the last year is attributable to lower selling prices and decrease in other income.Noting that there was a decrease in sales and distribution expenses, general and administrative expenses, financing costs and zakat expenses.
Basis of the External Auditor’s OpinionUnmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor OpinionNA
Reclassification of Comparison ItemsCertain figures of the prior year have been re-classified to conform to the current period presentation.
Additional InformationFrom January 1, 2019, the Company has adopted IFRS 16 with no material impact on its interim financial statements