Africa News 12 Saudi petrochemical firms report profit decline in three...

12 Saudi petrochemical firms report profit decline in three months

-

- Advertisment -

Riyadh – A number of 12 Saudi petrochemical companies recorded a 40% year-on-year decline in their profits during the first quarter of 2019, reaching SAR 4.88 billion.

The 12 companies’ operating profit declined by 32% YoY to SAR 8.9 billion, according to data compiled by Mubasher.

Advertisement

Yanbu National Petrochemical Company’s (Yansab) net profit went down 38% YoY in the three-month period ended 31 March.

Meanwhile, Saudi Arabia Fertilizers Co (SAFCO) posted SAR 335.47 million profit in Q1-19, compared to SAR 237.2 million a year earlier.

The decline in the Saudi petrochemical firm’s profit was not at odds with the expectation of research companies.

Translated by: Muhammad Abdul-Wakeel

Source: Mubasher Exclusive

All Rights Reserved – Mubasher Info © 2005 – 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Morocco’s 2020 draft budget bill to boost purchasing power Saad Guerraoui

CASABLANCA - The Moroccan government said that it will allocate almost 26 billion dirhams ($2.6 billion) to boost Moroccans’...

IOL News Woman who finished matric at age 43 is now qualified electrical engineer at 64 | Pretoria News

I have done it for the whole country. I want to show young people no matter how hard it...

Russian Delegation from North Caucasus Federal District Visit UAE on a Business Mission

The North Caucasus Federal District, Russia, has been focusing on the Middle East and the UAE in particular...

World’s largest 3D printed structure unveiled in Dubai

Wednesday, October 23rd, 2019 4:12pm supplied The world's largest 3D printed...

La CAF participe au congrès de l’AIAF au Caire

C'est la première fois que le congrès de l'AIAF se tient en Afrique. Son ordre du jour portera...

UAE’s Etisalat reports $1.82bln net profit for first nine months 2019

ABU DHABI - Etisalat Group on Wednesday announced its consolidated financial statement for the nine months ending 30th September,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you