Riyadh – Mubasher: Alujain Corporation on Wednesday reported a net profit fall of 25% year-on- year to SAR 37.76 million ($10.06 million) in the second quarter of 2016 from SAR 50.18 million ($13.3 million).
The decline was ascribed to lower polypropylene prices, despite higher sales quantities and lower feedstock prices, according to a bourse filing.
The Saudi-listed company’s profit also was down 20% to SAR 39.94 million in the first half of 2016 from SAR 33.35 million in the same period of 2015.
