Income crashes 65.3% at Advanced Petrochemical in Q2

The company's net income during the Q2 of 2012 was SR 53.9 million compared to SR 155.6 million for the same quarter last year with a decrease of 65.3% and compared to SR 57.1 million for the previous quarter with a decrease of 5.6%.

The company’s gross profit during the Q2 of 2012 was SR 67.8 million compared to SR 170.1 million for the same quarter last year with a decrease of 60.1%.

The company's income from operation during the Q2 of 2012 was SR 58.1 million compared to SR 160.6 million for the same quarter last year with a decrease of 63.8%.

The company's net income during the last six months of 2012 was SR 111 million compared to SR 286.7 million for the same period last year with a decrease of 61.3%.

The Earnings per share during the last six months was SR .677 compared to SR 1.748 for the same period last year. Recall that Advanced increased it’s capital from SR 1.41 billion to SR 1.64 billion and the earnings per share were calculated as per the last six months (period ended 30th of June 2012 and 2011) and in accordance to 163,995,000 shares.

The company’s gross profit during the last six months of 2012 was SR 137.2 million compared to SR 315.18 million for the same period last year with a decrease of 56.5%.

Advanced Petrochemical Company