Riyadh – Mubasher: Saudi Arabian Fertilisers Company’s (SAFCO) net profits dropped 49.83% year-on-year to SAR 299 million ($79.9 million) in the second quarter of 2016 from SAR 596 million ($158.9 million).
The decrease in the company’s Q2-16 net profits is attributed to lower prices of SAFCO’s products, according to a bourse filing on Wednesday.
The company’s net profits fell 50.67% in the first six months of 2016 to SAR 585 million from SAR 1.19 billion in the prior-year period.
