Saudi Kayan announces financial results for Q3
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, an affiliate of Saudi Basic Industries Corporation (SABIC), Saudi Kayan Petrochemicals reported its financial results for the third quarter of 2016.
The company posted a net profit of 156.32 million riyals ($41.7 million) between July-September period, beating analysts’ expectations. In the same period of last year, the company saw a net loss of 13.81 million riyals ($3.68 million).
NCB Capital analysts had been expecting a net profit of 95.00 million riyals ($25.32 million) while SICO Bahrain analysts’ estimates had called for a net profit of 105.00 million riyals ($28 million).
The company posted a net profit of 156.32 million riyals ($41.7 million) between July-September period, beating analysts’ expectations. In the same period of last year, the company saw a net loss of 13.81 million riyals ($3.68 million).
NCB Capital analysts had been expecting a net profit of 95.00 million riyals ($25.32 million) while SICO Bahrain analysts’ estimates had called for a net profit of 105.00 million riyals ($28 million).
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