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FINANCIAL NEWS
Saudi Sahara Petrochemicals posts USD14.5m Q2 profit
17 Jul 2012
(MENAFN) Saudi Sahara Petrochemicals Company stated that net profit declined 74 percent in the second quarter to USD14.48 million compared with USD55.7 million in last year’s same period, reported Arab News.
Operational loss reached USD3.52 million, compared with USD36 million profit in 2011’s same quarter.
Moreover, second-quarter gross profit plunged 96 percent to USD1.61 million, from USD42.92 million a year ago.
It is worth noting that second-quarter net profit represented a jump of 29 percent from the USD11.20 million profit posted in the first quarter of the current year.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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