Riyadh – Mubasher: Yanbu National Petrochemicals (Yansab) on Tuesday said its net profits grew 13.4% year-on-year in the third quarter of 2017.
Net profits amounted to SAR 644.6 million in Q3-17, compared to SAR 568.3 million in Q3-16, according to a bourse filing.
Quarter-on-quarter, profits surged 86.5%.
Saudi Arabia-based petrochemicals firm attributed the increase of its year-on-year net profits to the growth in production and sales quantities, and higher average sales prices for most of its products.
Sales went up 27.5% to reach SAR 1.93 billion in Q3-17, compared to SAR 1.52 billion in the corresponding period in the year earlier.
At the level of the first nine months of 2017, net profits tumbled to SAR 1.6 billion, from SAR 1.74 billion in the same period in the year before.
The company’s sales increased 10.2% reaching SAR 5.05 billion from January to September 2017, compared to SAR 4.59 billion in the same period in the previous year.
By 10:34 am KSA time, Yansab's stock rose 1.44% to SAR 55.60.
