Sipchem realizes SR 340 million in net profits at the close of the third quarter of this year

Source: www.gulfoilandgas.com 10/8/2007, Location: Middle East

The Saudi International Petrochemical Company (Sipchem) announced the financial results for the first nine months of the current 2007 fiscal year. During this period, Sipchem realized SR 340 million compared to SR 318 million for the same period of 2006, or SR 22 million (7%) over the same period of last year. Net profits for the third quarter of 2007 amounted to SR 87 million compared to SR 98 million for the same period of 2006. It is to be noted here that Sipchem’s two plants were shut down during the month of September 2007 to carry out scheduled periodic maintenance.

Total sales during the first nine months of 2007 amounted to SR 1,026 million compared to SR 854 million for the same period of 2006; marking an increase of SR 176 million or 20% increase over the same period of last year.

During this period, shareholders’ equity amounted to SR 3.5 billion compared to SR 2.8 billion during the same period of last year, marking an increase of SR 700 million or 25% over last year. During the same period, operating profits amounted to SR 558 compared to SR 479 million for the same period of last year (2006), marking an increase of SR 79 million or 16% over the same period of last year. Share profitability of the first nine months of the current year amounted to SR 1.7 compared to SR 1.59 for the same period of 2006.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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