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FINANCIAL NEWS
Saudi Safco reports USD209m profit in Q2
15 Jul 2012
(MENAFN) Saudi Arabian Fertilizers Company (Safco) posted 0.8 percent decline in quarterly profits, Reuters reported.
The company said it made USD209 million net profit in the second quarter, down from USD210.36 million a year earlier.
The company also reported a 4.1 percent decline in operating profits to USD193.3 million in the quarter from USD201 million a year earlier.
Safco said the decline in performance was due to lower sales resulting from lower production levels after maintenance work on some of its units.
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