Mubasher - Riyadh: Sahara Petrochemicals posted on Sunday a 745.6% rise in net profits in the second quarter of 2016, recording SAR 96.4 million ($25.7 million) compared to SAR 11.4 million ($3.04 million) in the same quarter last year.
Profits also increased 76.88% q-o-q, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
This y-o-y growth in profits is a result of the increase in production and sales levels in Q2-16 compared to Q2-15 when scheduled maintenance was taking place.The company has also lowered the losses from acrylic acid, which helped to maximize Sahara’s gains.
