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Saudi Basic Industries Corp. — Earnings Release 2017
Mar 12, 2018
53286_rns_2018-03-12_5e7f4837-a16c-42e3-8c82-cdcb851cafc1.html
Earnings Release
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Saudi Basic Industries Corp announces the annual financial results for the period ending on 31-12-2017
2010 · 12/03/2018 08:27:52 · Announcement #49669 · View on Saudi Exchange
Saudi Basic Industries Corp announces the annual financial results for the period ending on 31-12-2017
| Element | Current year | Previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 18.43 | 17.61 | 4.66 |
| Earning or loss per share, Riyals | 6.14 | 5.87 | - |
| Gross profit (loss) | 49.98 | 47.24 | 5.8 |
| Operational profit (loss) | 29 | 25.87 | 12.1 |
*All figures are in (Billions) Saudi Arabia, Riyals
| Element | EXPLAINATION |
|---|---|
| Reasons of annual financial results | The increase in net income is attributable to higher average selling price and lower general and administrative expenses |
| Reclassifications in annual financial results | Certain prior period figures have been re-classified to conform with the presentation in the current period. Noting that, On January 1 2017 SABIC has adopted IFRS |
| Other notes | Gross sales for the current period amounted to SR. 149.77 billion compared to SR. 143 billion for the same period last year with an increase of 5%. Total comprehensive income for the current period amounted to SR.21.49 billion compared to SR.16.24 billion for the same period last year with an increase of 32%. The shareholders equity excluding non controlling interests at the end of the period is SR. 163.92 billion compared to SR. 157.54 billion at the end of the same period last year with an increase of 4%. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.