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Sadara Chemicals losses widen to SAR 3 bln in H1

August 09/2017

MOSCOW (MRC) -- Sadara Chemical Co.Тs net loss widened in first half of 2017 to SAR 2.99 billion, from a loss of SAR 2.83 billion in the same period last year, due to startup costs and ramping up of the integrated facilities, said Argaam.
 
The company reported a net loss of SAR 1.59 billion in the second quarter versus a loss of SAR 1.49 billion in the same quarter last year, and a loss of SAR 1.4 billion in Q1 2017.

Loss per share for the six-month periods ended 30 June 2017and 2016 have been computed by dividing net loss for each period by the weighted average number of shares outstanding during such periods. The weighted average number of shares for the six-month periods ended 30 June 2017and 2016 is 2,872,686,464 and 1,785,562,170 respectively.

Gross sales revenue of the current quarter is SR. 1.31 billion compared to SR. 196million for the similar quarter last year with an increase of 570.3%. Gross sales for the current period amounted to SR. 2.17 billion compared to SR. 294 million for the similar period last year with an increase of 637%.

The shareholders equity (excluding minority interests) at the end of the period is SR. 15.84 billion compared to SR. 13.38 billion for the similar period last year with an increase of 18.4%.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Sadara Chemical.
Category:General News
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