Saudi Arabia Fertilizers Co. announces the interim financial results for the period ending on 30-06-2016 (Six Months)

21 Jul 2016
ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
NET PROFIT (LOSS)299596-49.832864.55
GROSS PROFIT (LOSS)265554-52.17271-2.21
OPERATIONAL PROFIT (LOSS)248537-53.82256-3.13
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
NET PROFIT (LOSS)5851,186-50.67
GROSS PROFIT (LOSS)5361,157-53.67
OPERATIONAL PROFIT (LOSS)5041,120-55
EARNING OR LOSS PER SHARE, RIYALS1.42.85-
 All figures are in (Millions) Saudi Arabia, Riyals
ELEMENTEXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEARLower selling prices for the company's products .However, increase in quantities sold for the company's products minimized the effect.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEARLower selling prices for the company's products .However, increase in quantities sold for the company's products minimized the effect.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTERDue to increase of the company share in net income of associated company
 Reclassifications in quarterly financial results Certain of the prior periods amounts have been reclassified to confirm to the presentation in the current period.
 Other notes During the first half of 2016, there was an improvement in the volume of production and sales compared to the same period in 2015 which was the result of the operation efficiency and entering SAFCO 5 the commercial production in the second half of 2015 and as a result of that it minimized the impact of the lower selling prices for the company's products.
It is worth mentioning that the company achieved a new historical record during the 1st half 2016.

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