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

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CHANGE CURRENTPREVIOUS QUARTER% CHANGE PREVIOUS
Net profit (loss)1312.5416.01-18.8
Gross profit (loss)39.940.5-1.4842.83-6.84
Operational profit (loss)22.923.6-2.9726.96-15.06
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Net profit (loss)2918.457.61
Gross profit (loss)82.772.613.91
Operational profit (loss)49.836.735.69
Earning or loss per share, Riyals1.050.67-
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENTEXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last yearDecrease 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 yearIncrease 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 quarterDecrease 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 notes1- 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.

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