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FINANCIAL NEWS
Saudi Petrochemical sector firms’ profits down to USD8.97b
15 Feb 2015
(MENAFN) Saudi Petrochemical sector firms’ net profit is down to USD8.97 billion in 2014, down by 3 percent compared to USD9.27 billion in 2013, Arab News reported.
In the fourth quarter of 2014, the petrochemical sector registered a similar drop to USD1.71 billion in comparison with USD2.61 billion year-on-year, Al-Hayat Daily said.
Capitals of the 14 listed petrochemical sector stand at USD24.5 billion whereas their market capitalization stood at USD127 billion by the closure of stock market (Tadawul), the report added.
According to the performance of the listed firms in 2014, 12 companies out of 14 registered growth in their profits. SABIC topped the sector with the highest profit USD6.24 billion in 2014 representing 69.4 percent of the sector profit growth.
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