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Saudi Kayan’s net loss declines in Q2

by ChemOrbis Editorial Team -
  • 15/07/2015 (13:17)
Saudi Kayan Petrochemicals, an affiliate of Saudi Basic Industries Corporation (SABIC), reported its financial results for the second quarter of 2015, according to media reports. The Saudi company posted a net loss of 13.42 million riyals ($3.58 million) in the second quarter of this year, a lower loss than analysts’ initial estimates, which called for a 41.97 million riyals ($11.2 million) net loss, according to a survey by Reuters.

The lower than expected net loss in the April-June period was attributed to a drop in feedstock prices. The company had previously restarted their Al-Jubail complex on March 26 following a maintenance shutdown that took about two months.
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