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22 Jul 2013
NAMA CHEMICALS CO. ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 30-06-2013 (SIX MONTHS)

Element

 

 

Current quarter

 

 

Similar quarter for previous year

 

 

% Change Current

 

 

Previous quarter

 

 

% Change Previous

 

 

Net profit (loss)

 

 

9.54

 

 

-9.1

 

 

-

 

 

-25.4

 

 

-

 

 

Gross profit (loss)

 

 

32.42

 

 

17.9

 

 

81.12

 

 

8.1

 

 

300.25

 

 

Operational profit (loss)

 

 

9

 

 

-2.9

 

 

-

 

 

-15.7

 

 

-

 

 

Element

 

 

Current period

 

 

similar period for previous year

 

 

% Change

 

 

Net profit (loss)

 

 

-15.88

 

 

-13.6

 

 

-16.76

 

 

Gross profit (loss)

 

 

40.51

 

 

42.9

 

 

-5.57

 

 

Operational profit (loss)

 

 

-6.6

 

 

1.3

 

 

-

 

 

Earning (loss) per share

 

 

-0.12

 

 

-0.11

 

 

-

 

 

All figures are in (Millions) Saudi Arabia, Riyals

Element

 

 

Explaination

 

 

Reasons of increase (decrease) for quarter compared with same quarter last year

 

 

Increase in net profit during the second quarter of 2013, mainly due to the high operational efficiency of the intermediate products in the current quarter, in addition to being rent revenues of the administrative building under Other incomes.

 

 

Reasons of increase (decrease) for period compared with same period last year

 

 

The reason for the rise in net loss during the period since the beginning of 2013 compared to the same period in 2012 to lower sales volume, as the quantities sold low because of the non-stop scheduled maintenance during the first quarter of 2013. In addition to increased general and administrative expenses of SR. 2.7 million during the first half of 2013, as also an increase in sales and marketing expenses of SR. 2.9 million.

 

 

Reasons of increase (decrease) for quarter compared with previous quarter

 

 

Increase in net profit during the second quarter of 2013 compared with the first quarter of 2013, mainly due to the high operational efficiency in the second quarter, which contributed to the increase of material produced in addition to being rent revenues of the administrative building under other income.

 

 

External auditors report containing reservation

 

 

We also refer to draw attention in the report of the external auditor for the second quarter of the current year in note (9) of the report and on the cost of property, plant and equipment.

 

 

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