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FINANCIAL NEWS
Saudi Sipchem posts USD42m profit in Q4
18 Jan 2013
(MENAFN) Saudi International Petrochemical Company (Sipchem) stated that its fourth-quarter net income declined by 25.3 percent to USD42.04 million from USD56.30 million a year earlier, reported Arab News.
The company said that gross profit fell by 29.6 percent to USD79.98 million from USD113.55 million, while operating profit dropped 32.1 percent to USD68.89 million from USD101.60 million.
For the full year, net profit went down by 14.8 percent to USD160.28 million, compared with USD188.20 million.
Meanwhile, 2012’s gross profit fell by 11.4 percent to USD335 million from USD381 million, whereas operating profit reached USD301 million, posting a decline of 12.9 percent from the USD346 million posted in 2011.
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24 Feb 2026
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