Riyadh – Mubasher: Advanced Petrochemical's profits fell 12.9% year-on-year to SAR 124.4 million in the first quarter of 2017 from SAR 142.9 million.
The company attributed the decrease in net profits to lower sales quantities due to the planned shutdown of production facilities in January 2017 for proactive efficiency improvement activities, according to a bourse filing on Wednesday.
Revenues increased 7.82% to SAR 526.24 million in Q1-17 as compared to SAR 488.1 million in Q1-16.
