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Arabian Pipes Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 6.64 4.44 49.55 3.12 112.82
Gross profit (loss) 21.35 16.42 30.02 15.93 34.02
Operational profit (loss) 14.84 11.03 34.54 9.41 57.7
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 7.26 4.67 55.46
Gross profit (loss) 45.25 45.43 -0.4
Operational profit (loss) 26.85 16.9 58.88
Earning or loss per share, Riyals 0.18 0.12 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The reason for the rise in net profit for the current quarter compared to the same quarter of the previous year, despite the decline in the rate of gross profit as a result of increase in prices of raw materials are due to increase sales volume
Reasons of increase (decrease) for period compared with same period last year The increase in net profit during the period compared to the same period of the previous year is due to the increase in the volume of sales as well as the decrease in freight charges resulting from lower sales export
Reasons of increase (decrease) for quarter compared with previous quarter The increase in sales volume and lower operating expenses is due to the increase in net profit during the quarter compared to the previous
Reclassifications in quarterly financial results The Items, elements and notes of the comparatives principles and notes of the comparatives Condensed Financial Statements have been restated and reclassified to meet with the applicable accounting policies for the current period which have been prepared in accordance with the International Financial Reporting Standards (IFRS) that are approved in the Kingdom of Saudi Arabia. in the Interim Financial Statements for the current period
Other notes Net sales during the current quarter reached SR 137 million compared to SAR 97 million for the same quarter last year, an increase of 41%. Net sales during the current period reached SR 371 million compared to SR 264 million for the same period last year, . The total income for the current period reached SR 6.6 million, compared to SAR 4.4 million for the same quarter last year, an increase of 50% compared to 3.1 million riyals for the previous quarter, an increase of 113%. Total comprehensive income for the current period was 7.3 million riyals, Compared to 4.7 million riyals for the same period last year, an increase of 55%. Total shareholders' equity (not minority rights) as at 30 September 2017 amounted to SR 624 million compared to SR 616 million at the end of December 31, 2016, an increase of 1%

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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