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FINANCIAL NEWS
Saudi SAFCO net profit declines by 51.5 percent
18 Apr 2016
(MENAFN) Saudi Arabia Fertilizers Co. (SAFCO) reported a 51.5 percent drop in first-quarter net profit which stood at USD 76.3mn, down from USD 157.12mn.
Moreover, the firm which reported falling profits was forecast by analysts to make USD 83.7mn during the cited quarter.
Additionally, the company’s earnings have been influenced hard by falling oil prices, which have dragged down product prices and cut the benefits.
On the other hand, the firm is also a huge producer of ammonia and urea, while since 2013 producers have voiced increasing concerns over the fall of urea prices.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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