Saudi Industrial Investment Group (SIIG) [2250.SE] has announced its 1Q2016 financial results, showing a net income figure of SAR88 million (+60% Q-o-Q, -30.1% Y-o-Y). Gross profit for the period came in at SAR425.1 million (-22.1% Q-o-Q, -3.2% Y-o-Y), while operating profit came in at SAR326 million (-4.4% Q-o-Q, +2.5% Y-o-Y). The company mainly attributed the increase in earnings during the quarter to an improvement in the company's share of results from jointly managed companies (SCP and JCP), which reached SAR98 million compared a loss of SAR3 million in 4Q2015. SIIG also noted that i) its share of losses from Petrochemical Conversion Company (PCC) reached SAR54 million versus SAR24 million in 4Q2015; and ii) that its share of Petrochem's results dropped to SAR61 million versus SAR89 million during 4Q2015. (Tadawul)