Alujain Corp. — Interim / Quarterly Report 2016

Apr 19, 2016

Alujain Corp. announces the interim financial results for the period ending on 31-03-2016 (Three Months)

2170 · 19/04/2016 08:04:08 · Announcement #42164 · View on Saudi Exchange

Alujain Corp. announces the interim financial results for the period ending on 31-03-2016 (Three Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	2.17	-	-	27.47	-
Gross profit (loss)	47.46	15.04	215.56	92.03	-
Operational profit (loss)	29.28	-	-	72.28	-
Earning or loss per share, Riyals	0.03	-	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	During Q1, 2016 there was a net profit as compared to net loss during Q1, 2015 mainly due to higher sales quantities, although the sales price declined during Q1, 2016. The sales and production was low during Q1, 2015 due to the scheduled turnaround shutdown during Q1-2015.
Reasons of increase (decrease) for quarter compared with previous quarter	The net profit decreased during Q1, 2016 as compared to Q4, 2015 mainly due to lower sales quantities and decline in selling price. The price of polypropylene decreased more than the feedstock. There was also one shutdown each during both quarters due to technical problem.
Reclassifications in quarterly financial results	Certain reclassifications were made in comparative numbers to conform to the current period.

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