Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | The reasons for the decrease in the net profit for the current year compared with the previous year are:1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current year to be SR 274 Million, compared to SR 312 Million in the previous year, as a result of a scheduled shutdown for SCP in the 4th quarter in 2019 and a decreased in the prices of the products.2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current year to be SR 336 Million, compared to SR 582 Million in the previous year.3. A decrease in the other income. |
Basis of the External Auditor’s Opinion | Unmodified opinion |
Reclassification of Comparison Items | Certain previous year figures have been re-classified to confirm with the presentation in the current year. |
Additional Information | From January 1, 2019, the Company has adopted IFRS 16 with no material impact on its financial statements. |