Basic Chemical Industries Co. — Interim / Quarterly Report 2018

Oct 28, 2018

Basic Chemical Industries Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

1210 · 28/10/2018 08:01:42 · Announcement #52396 · View on Saudi Exchange

Basic Chemical Industries Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	143.26	144.18	-0.638	151.39	-5.37
Total Profit (Loss)	37.53	36.08	4.018	39.92	-5.986
Profit (Loss) Operational	17.52	18.81	-6.858	22.9	-23.493
Net Profit (Loss) after Zakat and Tax	9.29	8.26	12.469	13	-28.538
Total Comprehensive Income	9.29	8.26	12.469	13	-28.538
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	448.41	422.07	6.24
Total Profit (Loss)	120.28	108.71	10.642
Profit (Loss) Operational	67.38	55.52	21.361
Net Profit (Loss) after Zakat and Tax	38.3	26.7	43.445
Total Comprehensive Income	38.3	26.7	43.445
Total Share Holders Equity (after deducting minority equity)	499.49	473.62	5.462
Profit (Loss) per Share	1.39	0.97
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	The reason for the increase in gross profit is due to the decrease in cost of goods sold.

The decrease in operating profit is due to increase in administrative and general expenses represented in increase in allowance for doubtful accounts for some customers.

The increase in net profit after Zakat and income tax is due to the decrease in cost of goods sold and increase in other operating income. Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The decrease in net profit, gross profit and operating profit for the current quarter is attributable to decrease in sales, increase in general and administrative expenses and increase in selling and distribution expenses. Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The reason for the increase in gross profit, operating profit and net profit for the current period is due to increase in sales and decrease in selling and distribution expenses and increase in other operating income. Type of the external auditor's opinion Unmodified opinion Additional Information 1- Sales for the current quarter reached 143.26 million compared to 144.18 million for the comparative quarter last year, a decrease of 0.64%.

2 - Sales for the current period for nine months amounted to 448.41 million compared to 422.07 million for the comparative period of the previous year, an increase of 6.24%.

3. Total comprehensive income (excluding minority interests) for the current quarter reached 9.29 million compared to 8.26 million for the comparative quarter of the previous year, an increase of 12.47%, compared to 13 million for the previous quarter a decrease of 28.54%. The current period is 38.3 million compared to 26.7 million for the comparative period of the previous year and an increase of 43.58% .

4. Shareholders' equity (excluding minority interests) for the current period reached 499.49 million compared to 473.62 million for the comparative period of the previous year, an increase of 5.46%.

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