Riyadh – Mubasher: Saudi Arabia-based Yanbu National Petrochemicals (Yansab) on Sunday reported a 3.6% year-on-year increase in its net profits for the first quarter of 2018.
Yansab’s net profits amounted to SAR 630.6 million during Q1-18, compared to SAR 608.2 million net profits in Q1-17, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, the Saudi petrochemicals producer's profits levelled down 18.9%.
Yansab attributed the growth in its first-quarter net profits to a rise in sales prices of all products, as well as higher average prices of some feedstock materials.
Sales went up 1.63% to SAR 1.78 million in Q1-18, from SAR 1.75 million in the corresponding period a year earlier, the Tadawul-listed firm noted.
The company’s total income increased 6.86%, reaching SAR 649.9 million in the three-month period ended 31 March 2018, compared to SAR 608.2 million in the year-ago period.
The stock inched up 0.78%, to close Thursday’s trading session at SAR 73.90.
