Riyadh – Mubasher: Saudi Kayan Petrochemical Company on Sunday reported a 74.3% year-on-year jump in its profits for the first quarter of 2018.
Kayan’s profits amounted to SAR 462.6 million during Q1-18, compared to SAR 264.5 million in Q1-17, according to a statement to the Saudi Stock Exchange (Tadawul).
The Tadawul-listed firm attributed the rise in its first-quarter profits to a growth in an average of sales prices, as well as a decline in operating costs.
Sales’ revenues increased 2.25% to SAR 2.7 billion for the three-month period ended 31 March 2018, compared to SAR 2.67 billion in the year-ago period.
The company’s total income surged 83% to hit SAR 485.04 million during Q1-18 versus SAR 265.46 million for the same period in the prior year.
