Arabian Pipes Company announces the annual financial results for the period ending on 31-12-2015

Element Current year Previous year % Change
Net profit (loss) -46.46 -52.35 11.25
Earning or loss per share, Riyals -1.16 -1.31 -
Gross profit (loss) 37.19 22.97 61.91
Operational profit (loss) -21.32 -27.2 21.62
All figures are in (Millions) Saudi Arabia, Riyals
Reasons of annual financial results The decrease in losses in 2015 compared to last year is due to the increase in gross profits despite the decrease in sales resulting from improved utilization of Jubail factory which did not reach breakeven. This improved utilization did not affect the net profit due to the increase in provisions amounting to SR18 million, SR 14 million expenses of Jubail underutilization, and SR20 million in finance charges; which includes one million for the postponed accommodation project. This indicates positive operating results despite the current market situation and the competitive landscape.
Reclassifications in annual financial results Reclassification some compared figures last period to matching with this year presentation

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