Riyadh – Mubasher: Yanbu National Petrochemicals (Yansab) on Thursday said that its net profits increased 28.48% in the third quarter of 2017, compared to the year-ago period.
Net profits rose to SAR 780 million in Q4-17, from SAR 607 million in Q4-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits levelled up 21%.
Yansab attributed the growth in its year-on-year net profits to the rise in average sales prices for all products, as well as in produced and sold quantities despite higher average prices of feedstock materials.
The Saudi petrochemical company’s sales jumped 31.71% to SAR 2.17 billion in Q4-17, from SAR 1.65 billion in the corresponding period in the year before.
The firm’s profits rose slightly 1.36%, reaching SAR 2.38 billion in 2017, compared to SAR 2.34 billion in 2016.
Sales grew 15.89% to SAR 7.22 billion in 2017, from SAR 6.23 billion in the year earlier.
Yansab’s stock inched down 0.75%, closing Thursday at SAR 63.91.
