Riyadh – Mubasher: Sahara Petrochemicals on Tuesday reported a net profit of SAR 54.5 million ($14.53 million) in the first quarter of 2016, against a net loss of SAR 49.5 million ($13.2 million) in the corresponding period in 2015.
Profits were ascribed to enhanced performance at Al Waha Petrochemical plant, which saw record monthly and quarterly output despite lower selling prices for its products, the company said in a filing to the Saudi Stock Exchange (Tadawul).
