Alujain Corp. — Earnings Release 2015

Feb 24, 2016

Alujain Corp. announces the annual financial results for the period ending on 31-12-2015

2170 · 24/02/2016 08:00:37 · Announcement #41362 · View on Saudi Exchange

Alujain Corp. announces the annual financial results for the period ending on 31-12-2015

Element	Current year	Previous year	% Change
Net profit (loss)	106.39	167.38	-36.44
Earning or loss per share, Riyals	1.54	2.42	-
Gross profit (loss)	373.5	434.16	-13.97
Operational profit (loss)	295.81	355.99	-16.9

*All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	The net profit decreased during 2015 as compared to 2014 mainly due to lower selling prices and lower sales quantities. The sales quantities are lower mainly due to the scheduled major turnaround procedure (major maintenance) and shutdowns which were announced on Tadawul. The subsidiary received insurance compensation of SR 51 million during 2014, which is part of the net profit of 2014. The financial charges are also lower by SR 9.5 million.
Reclassifications in annual financial results	Certain reclassifications were made in comparative numbers to conform to the current period.

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