Apr 09 2011 |
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Advanced Petrochemical Company announces its financial results for the First Quarter ending at 31/03/2011
The company's net profit during the first quarter was SR 131.11 million compared to SR 52.56 million for the same quarter last year with an increase of 149.42% and compared to SR 89.36 million for the last quarter with an increase of 46.71%.The companys gross profit during the first quarter was SR 145.05 million compared to SR 69.22 million for the same quarter last year with an increase of 109.52%.
The company's income from operation during the first quarter was SR 135.8 million compared to SR 61.01 million for the same quarter last year with an increase of 122.6%.
The Earnings per share during three months was SR 0.9274 compared to SR 0.3718 for the same period last year.
The reasons for the increase in net profit of first quarter 2011 compared to the first quarter and fourth quarter 2010 are mainly due to the improved product prices and increased sales.
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