Saudi Kayan announces the interim financial results for the period ending at 31/12/2011 (Twelve Months) 17/01/2012

Saudi Kayan Petrochemical company announces the interim financial results for the period ending at 31/12/2011:

1.Realized Net Loss of (SR 190.75) Million for the 4Q2011 compared to Net Loss of (SR 4.11) Million for the 4Q2010 and with an increase of 4542 % and compared to Net Loss of (SR 35.16) Million for the 3Q2011 with an increase of 443%.

2.Realized Gross Profit of SR 32.44 Million for the 4Q2011.

3.Realized Operating loss of (SR 56.16) Million for the 4Q2011.

4.Realized Net Loss of (SR 250.25) Million for the 12 months period compared to Net Loss of (SR 14.61) Million for the same period in 2010 with an increase of 1613%.

5.The per share loss for the 12 months period was (SR 0.167) compared to per share loss of (SR 0.010) for the same period in 2010.

6.Realized Gross Profit of SR 32.44 Million for the 12 months period in 2011.

7.Realized Operating loss of (SR 56.16) Million for the 12 months period in 2011.

8.The reason for increases in losses during the 4Q2011 and 12 months period in 2011, as compared to the 4Q2010 and the same period in 2010, is due to decrease in the prices of petrochemical products during the last quarter and the increase in Zakat provision. It is worth mentioning that the company started commercial operation on 1 October 2011 and it is normal to take some time for such mega petrochemical complex to improve the performance and stabilize production. This was stated by Mutlaq Al-Morished, Chairman of the Board of Saudi Kayan and Executive Vice President of Corporate Finance (SABIC ).

distribué par

Ce noodl a été diffusé par Saudi Kayan Petrochemical Company et initialement mise en ligne sur le site http://www.saudikayan.com. La version originale est disponible ici.

Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-18 16:51:23 PM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.