Basic Chemical Industries Co. — Interim / Quarterly Report 2013

Jan 20, 2014

Basic Chemical Industries Co ( BCI )announces the interim financial results for the period ending on 31-12-2013 (Twelve Months)

1210 · 20/01/2014 19:09:13 · Announcement #33044 · View on Saudi Exchange

Basic Chemical Industries Co ( BCI )announces the interim financial results for the period ending on 31-12-2013 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	3.7	14.9	-	6.3	-
Gross profit (loss)	32.3	49.2	-	36.1	-
Operational profit (loss)	10.2	27.7	-	14	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	44.4	64.5	-
Gross profit (loss)	161.4	190.4	-
Operational profit (loss)	80.7	110	-
Earning or loss per share, Riyals	1.61	2.34	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Decrease in Net Profit due to lower sales for the quarter decreased by 20% compared to the same quarter of the previous year as well as the high cost of sales increased by 6% which resulted in the reduction of net profit of the same reduction value of gross profit.
Reasons of increase (decrease) for period compared with same period last year	Decrease in net profit due to lower sales by 6% and decrease in gross profit by 15% due to increase in cost of sales.
Reasons of increase (decrease) for quarter compared with previous quarter	Decrease in net profit due to lower sales by 5% and decrease in gross profit by 10% due to increase in cost of sales.
Reclassifications in quarterly financial results	Certain amounts in the comparative 2012 interim consolidated financial statements have been reclassified to conform to 2013 presentation. Certain marketing and administrative expenses were also reclassified to conform to the nature of the activities of the group according to the recommendation of the external auditor.

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