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Saudi Kayan Petrochemical Company announces the preliminary financial results for the period ending at June 30, 2009 (Six Months)

29/07/2009
  1. Realized net loss of SAR(6.5) Million for the 2nd QTR 2009 compared to net Profit of SAR (59.7) Million for the 2nd QTR 2008 and net loss of SAR (6.2) Million For the 1st QTR 2009 higher by 5%. 
  2. Realized net loss of SAR (12.7) for the six months of 2009 compared to net profit of SAR (155.3) Million for the same period last year. 
  3. Loss per share of SAR(0.008) for the six months 2009 compared to profit per share of SAR( 0.104) for the same period of last year. 
  4. Saudi Kayan is still in the pre operating stage and all these gains or losses during this stage are classified as none operational. On this occasion, Eng. Mutlaq Al-Morished, Chairman of the Board of Directors of Saudi Kayan and Vice President, SABIC Corporate Finance reported:” Implementation works are well on track. 94.21percent of engineering works have been completed by end June , 2009 with an average completion of engineering, supply and construction works at 78.3 percent.