Riyadh – Mubasher: Yanbu National Petrochemicals (Yansab) on Sunday has stated that net profits surged 137.5% in the second quarter of 2018, compared to the year-ago period.
Yansab’s net profits amounted to SAR 820.9 million in Q2-18, compared to SAR 345.7 million during Q2-17, according to a bourse filing.
Quarter-on-quarter, profits jumped 30.2%, from SAR 630.6 million.
The petrochemicals firm attributed the increase in net profits during Q2-18 to a rise in average of selling prices for most of its products, as well as to a growth in production and sales volumes.
Sales levelled up 55.02% to SAR 2.12 billion in Q2-18, from SAR 1.36 billion in the year-ago period.
At the level of first six months for 2018, Yansab’s net profits soared 52.2%, reaching SAR 1.45 billion, compared to SAR 953.9 million in H1-17.
Yansab’s sales jumped 24.93% to SAR 3.89 billion during H1-18, from SAR 3.12 billion in the same period a year before.
The stock fell 1.04% to finish Sunday at SAR 76.
