Riyadh – Mubasher: Saudi Kayan Petrochemical on Wednesday said that its accumulated losses decreased by 40% by the end of the third quarter of 2017, to represent 10% of its capital.
The firm’s accumulated losses declined to SAR 1.54 billion by the end of Q3-17, compared to SAR 2.58 billion by the end of September 2016, according to a statement to the Saudi Stock Exchange (Tadawul).
The company’s capital amounted to SAR 15 billion, distributed over 1.5 billion issued shares, with a par value of SAR 10 per share.
Saudi Kayan’s profits soared 140.91% reaching SAR 381.03 million in Q3-17, compared to SAR 158.16 million in the year-ago period, backed by the rise in sales’ prices.
By 12:36 pm KSA time, the stock rose 1.26% to reach SAR 8.83.
