Advanced Petrochemical Company announces its audited Annual financial results for the year ended 31 December 2012
1- Net income for the year ended 31 December 2012 was SR 328.2 million compared to SR 512.8 million for the last year with a decrease of 36%.
2- Earning Per Share (EPS) for the year ended 31 December 2012 was SR 2.00 compared to SR 3.13 for the prior year. Note that the share capital increased from SR 1.41 billion to SR 1.64 billion and EPS is calculated for the year ended 31 December 2012 and 2011 based on 163,995,000 shares at 31 December 2012 and 2011.
3- Gross profit for the year ended 31 December 2012 was SR 386.5 million compared to SR 575.7 million for the last year with a decrease of 32.9%.
4- Income from operation for the year ended 31 December 2012 was SR 346.4 million compared to SR 533.7 million for the last year with a decrease of 35.1%.
5- The reason for the decline in net income for the year ended 31 December 2012 as compared to 2011 is mainly due to decline in product prices and decrease in sales quantities due to planned turnaround activity during Q2-2012.

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