Petrochem, SIIG revise down reported revenues figure to SAR7,364mn in 2017; no impact on net profit
Petrochem released a correction to its previously announced financial highlights, which includes revising down the revenue figure from SAR9,405mn to SAR7,364mn in 2017. It is worth mentioning that the revised revenues represent a 21.4% Y-o-Y improvement. 4Q17 corrected revenues currently comes at SAR2,169mn, which represents a 24% rebound on a Q-o-Q basis. Based on the release, the subject will neither affect operating metrics or the previously reported bottom-line earnings. SIIG has also revised down its reported revenues to SAR7,364mn, since Petrochem is consolidated on SIIG’s holding level.
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