Saudi Kayan Petrochemical Company [2350.SE] has announced its 4Q2015 financial results, showing losses of SAR624.1 million versus losses of SAR13.8 million in 3Q2015 and positive earnings of SAR11.8 million in the same quarter of 2014. Gross profit came in at a loss of SAR368.2 million compared to a positive SAR269.2 million and SAR267.9 million in 3Q2015 and 4Q2014, respectively. Operating losses came in at SAR475.5 million compared to operating profit of SAR174.9 million and SAR144.7 million in 3Q2015 and 4Q2014, respectively. According to the announcement, Kayan attributed the wider losses Q-o-Q to i) lower selling prices; ii) creating provisions for slow moving and dormant spare parts inventory; and iii) higher SG&A expenses. Kayan also noted that the losses came despite higher volumes during the quarter. (Tadawul)