FINANCIAL NEWS

Saudi SAFCO’s Q1 profit falls 5.52%

15 Apr 2012

(MENAFN) The Saudi Arabian Fertilizer Company’s (SAFCO) said that in the first quarter, net income fell 5.52 percent from the USD222 million recorded in 2011’s same period to USD209.78 million, reported Arab News.

The company added that operating income in the period dropped 2.91 percent to USD195.92 million, down from USD201.78 million reported a year earlier.

It also said that gross income dipped 2.71 percent from last year’s USD206.58 million to USD200.98 million.

It is worth noting that SAFCO’s net income in the first quarter plunged 38.37 from the USD340 billion recorded in 2011’s fourth quarter.

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