Saudi Yansab and Kayan announce financial results for Q2
Yansab posted a net profit of 345.7 million riyals ($92 million) in April-June period. In the same period of last year, the company saw a net profit of 747.3 million riyals ($199 million), implying a yearly decrease of about 54%. This decrease was mainly driven by weaker sales operations due to the shutdowns.
Meanwhile, Saudi Kayan Petrochemical Co. posted a net profit of 242 million riyals ($64 million) in the second quarter of 2017 from 97.3 million riyals ($26 million) recorded in the same period of last year. Economists’ expectations were calling for a net profit of 212 million riyals ($56 million).
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