Basic Chemical Industries Co. announces the annual financial results for the period ending on 31-12-2017
Net profit (loss)
Earning or loss per share, Riyals
Gross profit (loss)
Operational profit (loss)
All figures are in (Millions) Saudi Arabia, Riyals
Reasons of annual financial results
The decrease in net profit during the period compared to the corresponding period of the previous year is due to the increase in the cost of sales as well as the increase in general and administrative expenses, the company's share of the loss of investment in an associate in Qatar and the loss of the investment value in the same company. The reason for the increase in gross profit and operating profit during the current period compared with the corresponding period of the previous year is due to increased sales and other operating income and lower selling and distribution expenses
Reclassifications in annual financial results
The Company has adopted the International Financial Reporting Standards (IFRS) effective 1 January 2017. The financial statements have been restated, classified and classified in accordance with the accounting policies applied in the presentation, classification and classification of the items, Saudi Arabia, Saudi Arabia, Saudi Arabia, Saudi Arabia, Saudi Arabia, Saudi Arabia, Saudi Arabia and Saudi Arabia. The accompanying notes are an integral part of the consolidated financial statements for the period ended 31 December 2017.
1 - This year's sales amounted to 595.54 million compared to 557.83 million for the previous year, an increase of 6.76%. 2 - The profit for the year attributable to the shareholders of the company during the year amounted to 43.77 million compared to 46.19 million for the previous year and a decrease of 5.24% (excluding non-controlling interests). 3. Total comprehensive income attributable to the shareholders of the Company during the current year reached 41.78 million compared to 46.19 million for the previous year and a decrease of 9.55% (excluding non-controlling interests). 4. Shareholders' equity (excluding non-controlling interests) for the year was 567.47 million compared to 552.63 million at the end of the previous year, an increase of 2.69%.
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.