Riyadh – Mubasher: Saudi Kayan Petrochemical turned profitable in the first quarter of 2017.
The company posted profits of SAR 265.46 million in Q1-17, against losses of SAR 195 million in the year-ago period.
Profits were attributable to increased production and sales, enhanced operational performance, against higher feedstock costs and financial expenses, according to a bourse filing.
Total sales hiked 58% to reach SAR 2.67 billion in Q1-17, compared to SAR 1.69 billion in Q1-16.
