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Arabian Pipes Co. announces the annual financial results for the period ending on 31-12-2017

Element Current year Previous year % Change
Net profit (loss) 5.3 4.31 22.97
Earning or loss per share, Riyals 0.13 0.1 -
Gross profit (loss) 52.4 62.13 -15.66
Operational profit (loss) 25.93 22.3 16.28
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of annual financial results The reason for the increase in profits during the current year compared to the profits achieved during the past year is the increase in sales due to the operation of the Jubail and Riyadh plant, as well as the decrease in selling and distribution expenses due to the decrease in shipping expenses dispite of the increase in financing exps. However, as a result of the rise in steel prices and the sale part of slow moving inventory, the inventory provision has been reduced
Reclassifications in annual financial results Reclassification some compared figures last period to matching with this year presentation
Other notes Total sales value for the current Year SR 560 million compared to SR 365 million for last year, the increase of 53%,Total comprehensive income for the current period was 5.3 million riyals, Compared to 4.3 million riyals for the same period last year, an increase of 23%. and total shareholders' equity for the current Year SR 622 million compared to SR 616 million for the last year, a increase of 0.86%

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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