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FINANCIAL NEWS
SIIG profits declines 1 percent in 9 months
29 Oct 2013
(MENAFN) Saudi Industrial Investment Group (SIIG) saw a fall in net profit by 1 percent reaching USD136.23 million in the nine months to September down from USD137.99 million during the same months last year, according to Arab News.
The commercial operation of the National Petrochemical Company (PetroChem) and the rise in sales and distribution expenses were the reason behind the group’s decline in profit.
Share of the group’s losses at PetroChem boosted to reach USD 18.66 million in the three months to September compared to USD7.73 million during the same period 2012.
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