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Arabian Pipes Co. announces the interim financial results for the period ending on 30-09-2016 (Nine Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 4.44 -8.93 - 11.17 -60.25
Gross profit (loss) 16.42 8.17 100.98 21.48 -23.56
Operational profit (loss) 11.03 -1.35 - 15.15 -27.19
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 4.67 -23.66 -
Gross profit (loss) 42.63 32.58 30.85
Operational profit (loss) 20.32 -3.12 -
Earning or loss per share, Riyals 0.12 -0.59 -
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 profit in the current quarter compared to the loss incurred in the similar quarter of last year is due to the increase sales and gross profits margin as a result of productivity of Jubail plant as well as lower selling and distribution expenses as a result of higher domestic sales and thus decrease shipping costs
Reasons of increase (decrease) for period compared with same period last year The reason for the profit during the period compared to the loss incurred during the similar period of last year is due to, despite the decline in sales due to the operation of Jubail plant from mid-February, which led to the reduction of the fixed cost and increased the gross profit, and as a result of the increase domestic sales which led to a reduction in shipping expenses which reduced the sale expenses, as well as the sales of slow moving stock, which had led to a reduction in inventory provision, and other income as a result of the treasury products and external consultation
Reasons of increase (decrease) for quarter compared with previous quarter The reason for lower profits during the current quarter compared to the profits earned during the previous quarter of this year despite the decline in shipping cost and increase in finance charges to a decline in sales as a result of the postponement of delivery for some shipments from Jubail plant and not and reduction from inventory provision as well as higher finance costs with lower of other income
Other notes Total sales reached for the current quarter of SR 97 million compared to SR 70 million for the same quarter of the previous year, a rise of 38.57% and the total sales for the current period SR 264 million compared to SR 296 million for the same period last year, a decline of 10.81%, and total shareholders' equity for the current period SR 617 million compared to SR 635 million for the same period last year, a decline of 2.83%

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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