Riyadh-Mubasher: Yanbu National Petrochemical Co. (Yansab) reported net earnings of SAR 393 million for the fourth quarter of 2015, falling 36.4% compared with SAR 618 million in the year-ago period.
FY15 net earnings fell 51% year-on-year from SAR 2.4 billion to SAR 1.2 billion.
The fourth-quarter profit decline was attributable to lower average sales prices of all products despite higher sales volume and decrease in prices of some feedstock materials, the company said.
It attributed the decrease in FY15 profits to lower production and sales volume resulted from turnaround activities during the second quarter of 2015
