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Saudi International Petrochemical Company (Sipchem) announces the Estimated financial results for the period ending on 31-12-2017 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 164.4 31.9 415.36 121.6 35.2
Gross profit (loss) 455.1 249.1 82.7 367 24.01
Operational profit (loss) 304.4 134.2 126.83 253.5 20.08
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 437.4 43.1 914.85
Gross profit (loss) 1,455.5 861.5 68.95
Operational profit (loss) 964.1 437.3 120.47
Earning or loss per share, Riyals 1.19 0.12 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net profit increased compared to the same quarter last year primarily due to increase in average selling prices and sales volumes for most of products.
Reasons of increase (decrease) for period compared with same period last year Net profit increased compared to the same period last year primarily due to increase in average selling prices and sales volumes for most of products.
Reasons of increase (decrease) for quarter compared with previous quarter Net profit increased compared to the previous quarter current year primarily due to increase in selling prices and sales volumes.
Reclassifications in quarterly financial results All the reported figures are as per IFRS. Comparative figures have been restated based on IFRS transition effective 01 January 2016.
Other notes 1. Gross Sales reached SR. 4.459 billion during the current period compared to SR. 3.515 billion for the same period of the previous year reflecting an increase of 27.0%. Gross Sales reached SR. 1,278.6 million during current quarter compared to SR 949.6 million for the same quarter of the previous year reflecting increase of 34.6%.
2. Total comprehensive income for the period amounted to SR. 437.6 million compared to the similar period last year of SR. 40.9 million with an increase of 969.9%.
3. Total comprehensive income for the quarter amounted to is SR. 165.1 million compared to the similar quarter last year of SR. 30.5 million with an increase of 441.3% and compared to previous quarter of SR. 122.5 million with an increase of 34.7%.
4. Total Shareholders equity (excluding minority interests) reached 5.7 billion Riyals during the current year ended 31 December 2017 compared to 5.3 billion SR for the previous year ended 31 December 2016, with an increase of 7.5%.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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