Saudi Advanced Petchem profit grows by 8pct in Q1

14 May 2017

(MENAFN) Saudi-based Advanced Petrochemical Co. has posted an 8 percent increase in its revenue for the Jan-March period of the year to USD140.2mn.

Moreover, this was due to the product price was more than almost 20 percent year on year, while the firm has recorded a net profit of SR124.4mn, lower than SR164mn.

However, reported operating income and bottom-line came below Al Rajihi Capital estimates on account of lower-than-predicted equity income.

On the other hand, some costs up the gross profit level could have been categorized to below gross level post migrations to IFRS.



More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more