Advanced Petrochemical Company reported earnings results for the first quarter ended March 31, 2018. For the period, the company reported net profit was SAR 98 million compared to SAR 124.37 million a year ago. Operational profit was SAR 95 million compared to SAR 117 million a year ago. Earnings per share was SAR 0.5 compared to SAR 0.63 a year ago. Reasons of increase or decrease for quarter compared with same quarter last year as follows: Despite the increase in Polypropylene prices by 13.8%, net profit is reduced by 21.2% mainly due to: reduction in sales quantities by 15.8% due to scheduled turnaround of production facilities in March 2018 as announced earlier. Increase in propane prices by 16.3%. Increase in outsourced Propylene prices by 21.9%. Irrespective of the increase in polypropylene prices by 7.0%, operational profit is reduced by 17.6% mainly due to: Reduction in sales quantities by 26.1% due to scheduled turnaround of production facilities in March 2018 as announced earlier. Increase in outsourced Propylene prices by 12.5%. Despite the above, net profit is marginally reduced by only 5.6% due to increase in share of profit from its equity investment in SK Advanced Co. Ltd. (associated company) compared to fourth quarter of 2017. The sales revenue amounted to SAR 504 million, a decrease of 4.26% compared to the same quarter last year of SAR 526.24 million. The total comprehensive income amounted to SAR 239 million, an increase of 51.83% compared to same quarter last year of SAR 157.53 million.