Riyadh – Mubasher: Saudi Arabian Fertilizer Co. (SAFCO) said Thursday, in a bourse filing to Tadawul, that its net profits for the fourth quarter of 2015 dropped by 51% to SAR 379 million, down from SAR 779 million in the same quarter a year ago.
Net income for the 12-month period amounted to SAR 2.1 billion, down 33% year-on-year from SAR 3.1 billion.
The company ascribed the fall in the fourth-quarter’s profits to a decrease in sale prices and increase in costs.
