Riyadh – Mubasher: Saudi Arabian Fertilisers Company’s (SAFCO) net profits hiked 51.8% year-on-year to SAR 423.4 million ($112.74 million) in the first quarter of 2017 from SAR 279 million ($74.29 million).
The increase in net profits was attributed to higher selling prices of urea products and high sold quantities, according to a bourse filing on Sunday.
Revenues rose 22% to SAR 846.65 million in Q1-17 compared to SAR 691.23 million in the year-ago period.
