SearchSAUDI BASIC INDUSTRIES CORP ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-03-2016 (THREE MONTHS)
18/04/2016
| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE CURRENT | PREVIOUS QUARTER | % CHANGE PREVIOUS |
| NET PROFIT (LOSS) | 3.41 | 3.93 | -13.23 | 3.08 | 10.71 |
| GROSS PROFIT (LOSS) | 8.39 | 9.42 | -10.93 | 9.07 | -7.5 |
| OPERATIONAL PROFIT (LOSS) | 5 | 6.12 | -18.3 | 4.36 | 14.68 |
| EARNING OR LOSS PER SHARE, RIYALS | 1.14 | 1.31 | - | - | - |
All figures are in (Billions) Saudi Arabia, Riyals
| ELEMENT | EXPLANATION |
| REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR | The decrease in net income is attributable to lower average sales prices noting the net loss for the metals segment amounted to SR 725 million and decrease in cost of sales |
| REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER | The increase in net income is attributable to lower selling & admin costs and higher other income in addition to lower losses from the metals segment compared to previous quarter which had also the impairment against the assets of Ibn Rushd amounted to SR 781 million, SABIC share amounted to SR 375 million. Cost of sales were lower during this quarter |
| RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS | Certain prior period figures have been re-classified to conform with the presentation in the current quarter |