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Arabian Pipes Co. announces the annual financial results for the period ending on 31-12-2016

Element Current year Previous year % Change
Net profit (loss) 4.31 -46.46 -
Earning or loss per share, Riyals 0.11 -1.16 -
Gross profit (loss) 55.8 37.19 50.04
Operational profit (loss) 25.72 -21.32 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of annual financial results The reason for the profits earned during the period compared to losses realized during the corresponding period of the previous year is due to Jubail plant opration and turnover, which led to reduced fixed costs, thus increasing the gross profit as a result of the projects implemented by the company during the year and as a result of increased domestic sales has led to a decline in freight charges, which reduced selling and distribution expenses and also lower administrative expenses as a result of cost control and reduce inventory provision as a result of sale part of the slow movement inventory, as well as the company achieved Other income as a result of treasury products and provide consulting to third parties in spite of increased finance costs as a result of the high cost of funding
Reclassifications in annual financial results Reclassification some compared figures last period to matching with this period presentation
Other notes Total sales value for the current Year SR 365 million compared to SR 373 million for last year, a decline of 2%, and total shareholders' equity for the current Year SR 616 million compared to SR 612 million for the last year, a increase of 0.65%

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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