Basic Chemical Industries Co. — Interim / Quarterly Report 2014

Jul 20, 2014

Basic Chemical Industries Co ( BCI ) announces the interim financial results for the period ending on 30-06-2014 (Six Months)

1210 · 20/07/2014 08:15:27 · Announcement #35213 · View on Saudi Exchange

Basic Chemical Industries Co ( BCI ) announces the interim financial results for the period ending on 30-06-2014 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	7.2	18.2	-	8.7	-
Gross profit (loss)	37.5	49.7	-	39.6	-
Operational profit (loss)	16.1	27.5	-	18.2	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	16	34.4	-
Gross profit (loss)	77.1	95.7	-
Operational profit (loss)	34.2	55.7	-
Earning or loss per share, Riyals	0.58	1.25	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The reasons for the decline in the current quarter compared with the same quarter of the previous year, are a decrease in sales by 14% in spite of the decrease in expenses of Zakat decreased by 35% and decrease in administrative expenses, selling and distribution by 4%.
Reasons of increase (decrease) for period compared with same period last year	The reasons for the decline during the current period compared with the corresponding period of the previous year, are a decrease in sales by 11% and increased administrative expenses, Selling and distribution by 7%.
Reasons of increase (decrease) for quarter compared with previous quarter	The reason for the decline in the current quarter compared with the previous quarter of this year to increase the cost of sales increased by 5% and a decrease in gross profit by 5%.
Reclassifications in quarterly financial results	Certain amounts in the comparative 2013 interim consolidated financial statements have been reclassified to conform to 2014 presentation.

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