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NEWS

Basic Chemical Industries Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months) Aug 6/18

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 13 12.5 4 16.01 -18.8
Gross profit (loss) 39.9 40.5 -1.48 42.83 -6.84
Operational profit (loss) 22.9 23.6 -2.97 26.96 -15.06
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 29 18.4 57.61
Gross profit (loss) 82.7 72.6 13.91
Operational profit (loss) 49.8 36.7 35.69
Earning or loss per share, Riyals 1.05 0.67
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Decrease in gross profit and operating profit is due to increase in cost of cost of goods sold, and decrease in other operating income. Increase in net profit (excluding minority interest) is due to increase in sales of mother company BCI
Reasons of increase (decrease) for period compared with same period last year Increase in gross profit, operating profit and in net profit (excluding minority interest) is due to increase in sales, and decrease in general and administrative expenses and in selling and marketing expenses.
Reasons of increase (decrease) for quarter compared with previous quarter Decrease in net profit (excluding minority interest) and in gross profit and in operating profit during current quarter is due to decrease in sales and increase in cost of goods sold and decrease in other operating income and increase in general and administrative expenses.
Other notes 1- Current quarter sales amounted to 151.39M compared to 149.51M for similar quarter in prior year with 1.26% increase. 2- Current period sales for the period ended 30 June 2018 amounted to 305.15M compared to 277.89M for similar period in prior year with 9.81 %increase. 3- Net profit after Zakat and tax for the current quarter amounted to 17.77M compared to 20.32M for similar quarter in prior year with 12.55% decrease and compared to 23.35M for prior quarter, with 23.9% decrease. 4- Net profit after Zakat and tax for the current period amounted to 41.12M compared to 30.5M for similar quarter in prior year with 34.82% increase. 5- Total comprehensive income (excluding minority interest) for current quarter amounted to 13M compared to 12.5 M for similar quarter in prior year with 4% increase and compared to 16M for prior quarter with 18.75% decrease. Total comprehensive income (excluding minority interest) for current period amounted to 29M compared to 18.4M for similar period from prior year with 57.61% increase. 6- Stockholders’ equity (excluding minority interest) for current period amounted to 490.2M compared to 488.69M for the year ended 31 December 2017 with 0.31% increase.
7- Interim financial statements have been reviewed and unqualified audit review opinion has been issued by external auditor.

Basic Chemical Industries Company (BCI) announces the date and method of paying the dividends for the financial year ended 2017. May 30/18

Basic Chemical Industries Company (BCI) announces that Arab National Bank will release the dividends for the financial year ended 2017, The right of dividends will be to the shareholders of the Company at the end of the trading session on 29/5/1439 H dated to 15/05/2018 and registered in the Company’s shareholders register with the Securities Depository Center (Depository Center) at the end of the second trading day following the maturity date, at a rate of SR 1 per share with a total value of SR 27,500,000 representing 10% of the capital, The bank will begin the payment process on Wednesday 06/06/2018 by direct transfer of the banking accounts linked to the investment portfolios of the shareholders. If the deposit fails, they should revert to the Arab National Bank branches and receive in cash using their national ID.
For answer any queries, please contact Arab National Bank at (8001244141)
And the Basic Chemical Industries Company No. 0138217201

The Capital Market Authority and the Saudi Stock 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.

Corrective announcement from the Basic Chemical Industries Company (BCI) regarding the signing of an agreement of increasing and amending the credit facilities granted by ANB May 29/18

Corrective announcement from the Basic Chemical Industries Company (BCI) regarding the signing of an agreement of increasing and amending the credit facilities which was granted by Arab National Bank (ANB) to the Company in accordance with the Islamic Sharia regulations, as announced on the Tadawul website on Sunday 27 May 2018. The announcement included a mistake in the English translation in terms of the credit facilities funding entity which stated as National Chemical Industries Company (BSC) however the correct one should be Arab National Bank (ANB).

The Capital Market Authority and the Saudi Stock 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.

Basic Chemical Industries Co. announces obtaining an agreement to increase and amend the credit facilities granted to the Company by the National Chemical Industries Company (BSC) May 27/18

Basic Chemical Industries (BCI) announces the signing of an agreement to increase and amend the credit facilities granted to the Company in accordance with the Islamic Shari’a law of Arab National Bank as follows:
1-The financing agreement was signed on Sunday, May 27, 2018.
2-The value of the limit of the facilities granted 262 million riyals.
3-The company aims to finance the chlorine production project in Jubail Industrial City.
4-The duration of this funding is seven years and four months.
5-The financing was taken by guaranteeing a bond with the value of the financing in favor of Arab National Bank.

The Capital Market Authority and the Saudi Stock 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.

Basic Chemical Industries Co. announces the latest developments on the latest developments of the chlorine production project in Jubail Industrial City May 27/18

Further to our previous announcements, the latest of which was 22 March 2017 and published on Tadawul website, the company announces the following developments:
1- The Company has signed the supervision contract on the above project referred to with the company Worly Parsons Arabia Limited.
2 – The company obtained all approvals for electrical construction.
3. The Company anticipates that the first shipment of the project equipment will arrive from abroad in early 2018 in accordance with the contract, agreements and time schedules signed with the external supplier ThyssenKrupp Uhde Chlorine Engineers -Italia- S.r.l
4 – Note that the expected date of completion of the project in June 2020.
5. There is no change in project implementation costs.
The company will disclose any significant developments in this regard at the time.

The Capital Market Authority and the Saudi Stock 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.