Saudi International Petrochemical Company holds financial earnings call
JEDDAH: Saudi International Petrochemical Company (Sipchem) conducted the quarterly financial results earnings call with analysts and investment institutions to discuss its annual financial results ending on 31 December 2018.
Sipchem President, Corporate & Shared Services Mr. Abdullah Al-Saadoon and VP, Corporate Finance Mr. Paul Jacobs discussed the company results and performance during 2018 and addressed the queries of the participants.
Al-Saadoon affirmed that the Sipchem delivered a solid set of results for the full year of SAR 583 million. Annual profit growth can be attributed to rise in average selling prices, sales volume, and execution/delivery of strategic initiatives that trimmed cost and improved performance globally.
This call emphasizes the role of investor relations that play a prominent role in creating effective communication with the financial community.
Saudi International Petrochemical Company (Sipchem) posted a net profit of SAR 583 million for the year ended December 31, 2018, up 33.28 percent, compared with the profit of SAR 437.4 million in the previous year. The earnings per share (EPS) for 2018 clocked in at SAR 1.59 as against EPS of SAR 1.19 in 2017.