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Saudi Sahara’s net profit drops drastically in Q2

by ChemOrbis Editorial Team -
  • 28/07/2015 (11:32)
Saudi Arabia’s Sahara Petrochemicals Company announced their financial results for the second quarter of 2015, according to market sources.

Sahara’s net income declined 93.8% from a year earlier to SAR 11.4 million ($3.04 million) in the April-June period. According to a report released by Saudi Fransi Capital, Sahara’s net profit was forecasted at SAR46 million ($12.3 million).

The company cited planned maintenance of around a month at plants run by its subsidiaries Al Waha Petrochemical Co. and Sahara and Maaden Petrochemical Co. (SAMAPCO) as the main reason for the slump in profits.
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