Sahara Petrochemicals announces the preliminary financial results for the period ended 31December 2012. (Twelve months) as follows:

  1. Net profit during the fourth quarter of 2012G amounted to SR 64.49 million compared to SR 5.01 million for the same quarter last year with an increase of 1187% and compared to SR 43.71 million for the previous quarter with an increase of 48%.
  2. Gross profit during the fourth quarter amounted to SR 69.28 million compared with SR 32.09 million for the same quarter last year with an increase of 116%.
  3. Operating profit during fourth quarter amounted to SR 44.74 million compared with SR 8.88 million for the same quarter last year with an increase of 404%.
  4. Net profit during twelve months amounted to SR 204.45 million compared to SR 411.58 million for the same period last year with a decrease of 50%.
  5. Earnings per share during twelve months amounted to SR 0.47, based on that the number of shares is 438.8 million, compared to SR 1.15 for the same period last year, based on the average number of shares which was 305.8 million, as the existing number of shares has increased compared with the last year after the companys capital increase in the fourth quarter of the last year.
  6. Gross profit during twelve months amounted to SR 53.31 million compared with 240.37 million for the same period last year with a decrease of 78%.
  7. Operating loss during twelve months amounted to SR 27.80 million compared to a profit of SR 167.66 million for the same period last year.
  8. The increase of the net and gross profit during the last quarter of this year compared with the same quarter last year is attributed to the increase of sales.
  9. The decrease of the net and gross profit during the current period compared with the same period last year is attributed to the decrease of the product prices and decrease of sales volumes due to the periodic maintenance implanted in Al Waha plant during the second quarter and a part of the third quarter of the 2012 as announced earlier on 12-07-1433H corresponding 02-06-2012G.
  10. The increase of the net profit during the fourth quarter of 2012G compared with the same quarter of the previous year is attributed to the increase of the sales volumes after completing the scheduled periodic maintenance activities and the improvement of the product prices.
  11. It is worth mentioning that profits recognized from the companys investment in Saudi Ethylene and Polyethylene Company (SEPC), an affiliate of Sahara, was decreased in December 2012 due to cost of refinancing as announced earlier on 17-02-1434 H corresponding 30-12-2012G.

Regards,

Public Relations Department.

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