Saudi Kayan Petrochemical Co. (Saudi Kayan) reported a net loss after zakat and tax of SAR 479.6 million for the first half of 2019, compared to a net profit of SAR 1.34 billion a year earlier due to lower selling prices and higher financing costs.
The loss was incurred despite lower feedstock cost, lower administrative and general expenses, higher quantities produced and sold, and reduced provision for Zakat.
|Gross Income||2,162.29||454.37||(79.0 %)|
|Operating Income||1,837.52||138.08||(92.5 %)|
|Net Income||1,341.24||(470.62)||(135.1 %)|
|EPS (Riyal)||0.89||(0.31)||(135.1 %)|
The company posted a net loss of SAR 273.1 million in Q2 versus a net profit of SAR 878.6 million a year earlier due to a decrease in selling prices and higher financing costs.
When compared to the previous quarter’s SAR 38.3 million profit, Q2 saw a net loss of SAR 197.5 million.
|2019 - Q2 (e)||2019 - Q2 (a)||Change|
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||14,850.00|
|Return on Average Assets||(0.28 %)|
|Return on Average Equity||(0.72 %)|