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Arabian Pipes Company announces the interim financial results for the period ending on 31-12-2015 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) -21.82 -20.27 -7.65 -8.93 -144.34
Gross profit (loss) 4.61 -0.45 - 8.17 -43.57
Operational profit (loss) -17.7 -15.32 -15.54 -1.35 -1,211.11
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) -45.47 -52.35 13.14
Gross profit (loss) 37.19 22.97 61.91
Operational profit (loss) -20.82 -27.2 23.46
Earning or loss per share, Riyals -1.14 -1.31 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year the loss increase compared with last quarter due to decrease in sales and provision taken for inventory amounting SR 5 million and receivable provision amounting SR 3 million, The gross profits increase despite decrease in sales and Jubail cost for non production period due to raw material prices reduction
Reasons of increase (decrease) for period compared with same period last year the loss reduction compared with same period last year due to decrease Jubail factory fixed cost and decrease raw material prices which increase gross profits despite record SR 27 million as depreciation exps. during the period compared with SR 22million last period and also record a inventory provision amounting SR 8 million compared with SR 3million in the same period last year and also receivable provision amounting SR 3 million recorded under administration expenses in income statement
Reasons of increase (decrease) for quarter compared with previous quarter The loss increase comparing with previous quarter due decrease sales quantities which effect gross profits and increase shipping cost due to export goods and also increase admin expenses due to receivable provision amounting SR 3 million and inventory provision amounting SR 5 million during the current quarter
Reclassifications in quarterly financial results Reclassification some compared figures last period to matching with this preiod presentation

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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