Advanced Petrochemical Co. reported a net profit after zakat and tax of SAR 354.2 million in the first half of 2019, edging up 0.94 percent year-on-year (YoY) on higher sales volumes, lower propane and outsourced propylene prices.
Profit was impacted by higher cost of production, higher general and administrative expenses, and a decrease in profit share from SK Advanced Co. Ltd.
|Gross Income||396.28||440.27||11.1 %|
|Operating Income||341.31||359.06||5.2 %|
|Net Income||350.89||354.18||0.9 %|
|EPS (Riyal)||1.78||1.80||0.9 %|
The company’s Q2 net profit after zakat and tax fell 24.1 percent YoY to SAR 192.3 million due to lower sales volumes, lower prices of poly propylene, higher consumption of outsourced propylene, and lower profit share from subsidiary.
On a sequential basis, Q2 net profit rose around 19 percent from the previous quarter on higher polypropylene prices, lower cost of outsourced propylene and lower cost of production.
|2019 - Q2 (e)||2019 - Q2 (a)||Change|
|P/E Before Unusual Items (TTM)||15.98|
|Dividend Yield||5.55 %|
|Market Cap. (M)||11,506.95|
|Return on Average Assets||14.94 %|
|Return on Average Equity||22.20 %|