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Arabian Pipes Co. announces the interim financial results for the period ending on 30-06-2018 (Three Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) -7.96 3.12 - -8.85 10.06
Gross profit (loss) 6.82 15.93 -57.19 2.81 142.7
Operational profit (loss) -0.26 9.41 - -5.1 94.9
All figures are in Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) -16.81 0.6 -
Gross profit (loss) 9.63 23.89 -59.69
Operational profit (loss) -5.36 12.02 -
Earning or loss per share, Riyals -0.42 0.02 -
All figures are in Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The reason for the increase in the net loss for the current quarter compared to the comparable quarter of the previous year despite the increase in sales to increase the prices of raw materials and delays in the delivery of some projects, which affected the cost and productivity of Jubail plant.Also, Selling , distribution , and admin expenses increased compared to the same quarter last year .
Reasons of increase (decrease) for period compared with same period last year The reason for the increase in losses during the current period compared to the same period of the previous year, despite the rise in sales to the high costs of sales as the prices of raw materials increased during the last period, which led to a decrease in gross profit margin, in addition to the increase in general ,selling, and administrative expenses compared to the previous year.
Reasons of increase (decrease) for quarter compared with previous quarter The decrease in losses in this quarter compared to the previous quarter is due to the increase in gross profit margin as a result of the increase in sales were orders delivered during this quarter, as well as a decrease in the cost of sales.
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 Total sales for the current quarter amounted to SR 165.7 MM compared to SR 120.6 MM for the same quarter of the last year with an increase of 37%. Total sales for the current period amounted to SR 287.7 MM compared to SR 233.2 MM for the same period for the previous year with an increase by 23.3% .Total comprehensive income for the quarter amounted to is SR. (7.9) MM compared to SR. 3.1 MM for the same quarter last year with a decrease of 354% compared to SR (8.8 ) MM for the past quarter with an increase by 10%.Total comprehensive income for the current period amounted to SR. (16.8) MM compared to SR. 0.6 MM for the same period last year.The total shareholders' equity (not minority rights) for the current period amounted to SR 604.9 MM compared to SR 617 MM for the same period last year with a decrease of 2%.Note that the effect of applying IFRS 9 and 15 from January 1, 2018 did not result in material differences

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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