Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi Kayan incurs SR71.12m loss  Join our daily free Newsletter

MENAFN - Arab News - 15/04/2012

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093503487%26title%3dSaudi-Kayan-incurs-SR71 Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093503487%26title%3dSaudi-Kayan-incurs-SR71 Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN - Arab News) Saudi Kayan Petrochemical Company (Saudi Kayan) in its interim financial results for the period ending March 31 reported a net loss of SR71.12 million for Q1, 2012 compared to SR8.33 million for the same quarter last year with an increase of 753.8 percent and compared to net loss of SR190.75 million for the previous quarter with decrease of 62.72 percent, according to a statement available on Tadawul website.

It realized a gross profit of SR132.23 million for the Q1, 2012, and operating profit of SR75.65 million for the Q1.

The per share loss for the 3-month period was SR0.0474 compared to SR0.006for the same period last year.

The increase in losses for Q1, 2012 compared to the same quarter last year is due to commencement of commercial operations on Oct. 1, 2011 and there are no similar accounts in same period of 2011 for comparison. The decrease in losses as compared with previous quarter is due to the improvement in products' sales prices despite the increase of feedstock and reduction in production and sale volume due to unscheduled shutdown to most of the company's plants from Jan. 19 to Feb. 9 that was announced at Tadawul. It is normal to take some time for such mega petrochemical complex to improve the performance and stabilize production.

 






  MENA News Headlines
May 22 2013Swiss take a step to unlocking mystery of ageing ,AFP
(MENAFN - AFP) Swiss researchers said Wednesday that they had taken a step closer to unlocking the mystery of ageing after discovering the impact of a longevity gene in mice and then managing to ...

May 22 2013Concept flu vaccine may protect against many strains ,AFP
(MENAFN - AFP) Scientists unveiled a concept vaccine against flu Wednesday they said may protect against various strains with a single jab. Tested in ferrets, considered good human models, the ...

May 22 2013Muslim imams pray at Auschwitz for Holocaust dead ,AFP
(MENAFN - AFP) Muslim leaders from across the globe knelt in prayer for the Holocaust dead at the Auschwitz's notorious Wall of Death on Wednesday, in an emotional visit to the Nazi German death ...

May 22 2013India's Ranbaxy pumps in $300 mn to improve safety ,AFP
(MENAFN - AFP) Indian generic giant Ranbaxy said Wednesday it has spent over $300 million to overhaul its operations and ensure no repeat of drug safety violations that led to a multi-million ...

May 22 2013Europe's biggest port, Rotterdam, opens major extension ,AFP
(MENAFN - AFP) Europe's busiest port of Rotterdam opened a multi-billion euro extension on Wednesday, with wider and deeper basins to accomodate the world's biggest freight ships. The Maasvlakte 2 ...

May 22 2013EU leaders face up to shale challenge ,AFP
(MENAFN - AFP) EU leaders agreed Wednesday to face up to the challenge posed by the shale oil and gas revolution which has slashed US energy prices, undercutting Europe's competitive edge. "All ...

May 22 2013Contemporary spin on ancient art in Rome exhibition ,AFP
(MENAFN - AFP) From ancient Greek statues with futuristic helmets to gladiator shields decorated with shoes, a series of Italian contemporary art works are going on show among the ruins of Rome's ...

May 22 2013Cheaper yen attracts record visitors to Japan ,AFP
(MENAFN - AFP) A record 923,000 foreigners travelled to Japan in April, up 18.1 percent from a year earlier, taking advantage of a weaker yen and an increase in chartered flights, a government ...

May 22 2013Spanish flamenco's coming home... to India ,AFP
(MENAFN - AFP) Spain's oldest flamenco festival will visit India in 2014, retracing the origins of the classic Spanish musical form, organisers said Wednesday. The Cante de las Minas festival ...

May 22 2013More English at French universities? The debate begins ,AFP
(MENAFN - AFP) France's lower house began debating a proposal Wednesday to introduce more courses in English at universities, amid a storm of controversy in a nation fiercely protective of its ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help