OREANDA-NEWS. October 18, 2012. Saudi Kayan Petrochemical Company (Saudi Kayan) announces the interim financial results for the period ending at 30/9/2012:

1.Realized Net Loss of SR (178.37) Million for the 3Q2012 compared to SR (35.16) Million for the same quarter last year with an increase of 407.3 % and compared to SR (328.32) Million for the previous quarter with a decrease of 45.7%

2.Realized Gross Profit of SR 52.68 Million for the 3Q2012

3.Realized Operating Loss of SR (24.86) Million for the 3Q2012

4.Realized Net Loss of SR (577.82) Million for the 9 months period compared to SR (59.50) Million for the same period last year with an increase of 871.1 %

5.The per share loss for the 9 months period was SR (0.385) compared to per share loss SR (0.039) for the same period last year

6.Realized Gross Profit of SR 112.62 Million for the 9 months period

7.Realized Operating Loss of SR (111.35) Million for the 9 months period

8.The Company started the commercial operations for most of its plants on October 1, 2011 therefore the comparison of 3Q-2012 and 9 months period with the same quarter and 9 months period last year is not applicable. The decrease in loss for 3Q-2012 compared to the previous quarter, despite the lower average selling prices, is due to the increase in production volume resulting from improvement in operational efficiencies. It's worth mentioning that the company started the commercial operations of its Amine project during the month of August which added more products to the product portfolio.