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FINANCIAL NEWS
Saudi’s Yansab net profit down 20 percent in Q3
21 Oct 2014
(MENAFN) Saudi Arabia’s Yanbu National Petrochemical Co. (Yansab) registered a drop in the company’s net profit by 20.1 percent in the July-September period of this year, Arab News reported.
During the third quarter of this year, the company, which a subsidiary of Saudi Basic Industries Corp. (SABIC), posted a net profit of USD184 million, a decline by 30 percent compared to USD230.51 million in the same period of 2013.
This decline, which the company contributed to a decline in sales volume, is the company’s fourth straight quarterly profit decline.
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