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FINANCIAL NEWS
Saudi Yansab reports USD116m profit in Q3
14 Oct 2012
(MENAFN) Saudi-based Yanbu National Petrochemical Co (Yansab) reported near 50 percent decline in quarterly profits on lower product prices, Reuters reported.
The company said it made USD116 million net profit during the third quarter, down from USD220.5 million a year earlier.
Yansab, another affiliate of Saudi Basic Industries (SABIC), also said that its second-quarter net profit stood at USD173.1 million.
The company produces ethylene, ethylene glycol, high density polyethylene, low linear density polyethylene, polypropylene, butene 1, butene 2, MTBE and BTX.
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