Arabian Pipes Company announces the interim financial results for the period ending on 30-06-2015 (Six Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) -8.4 -14.05 40.21 -6.33 -32.7
Gross profit (loss) 8.39 4.32 94.21 16.03 -47.66
Operational profit (loss) -2.19 -7.33 70.12 0.41 -
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) -14.73 -20.87 29.42
Gross profit (loss) 24.41 14.6 67.19
Operational profit (loss) -1.78 -7.65 76.73
Earning or loss per share, Riyals -0.03 -0.19 -
All figures are in (Millions) Saudi Arabia, Riyals
Reasons of increase (decrease) for quarter compared with same quarter last year The loss decrease comparing with the quarter of last year despite decrease the sales value due to starting Jubal factory production during current quarter which reduce the fixed cost plus reduce raw material prices
Reasons of increase (decrease) for period compared with same period last year The losses decrease comparing with the previous period last year due to start Jubail plant production which reduce the fixed cost and increase gross profits despite record a provision for slow movement inventory amounting SR 2.6 million plus Jubail factory expenses during production stoppage period amounting SR 9.6 million recorded under cost of sales comparing with SR 1.5 million recorded in compared period only and in addition the depreciation recorded under cost of sales for the period SR 15 million comparing with SR 10 million recorded in compared period
Reasons of increase (decrease) for quarter compared with previous quarter Loss increase compared with previous quarter due to sales decreased as a result of postponement deliver some projects from Riyadh and Jubail factories
Reclassifications in quarterly financial results Reclassification some compared figures last period to matching with this preiod presentation

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