Saudi Yansab and Kayan announce financial results for Q4
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Yanbu National Petrochemical Co (Yansab) and Saudi Kayan Petrochemicals, affiliates of Saudi Basic Industries Corp. (SABIC) reported their financial results for the fourth quarter of 2016.
Yansab posted a net profit of 602.85 million riyals ($160 million) in October-December period, slightly missing analysts’ expectations of 615.33 million riyals ($164 million). In the same period of last year, the company saw a net profit of 393.06 million riyals ($105 million), implying a yearly increase of 53%.
Saudi Kayan Petrochemical Co posted a net profit of 103.65 million riyals ($28 million) between October and December. In the same period of last year, the company saw a loss of 624.14 million riyals ($166 million).
Yansab posted a net profit of 602.85 million riyals ($160 million) in October-December period, slightly missing analysts’ expectations of 615.33 million riyals ($164 million). In the same period of last year, the company saw a net profit of 393.06 million riyals ($105 million), implying a yearly increase of 53%.
Saudi Kayan Petrochemical Co posted a net profit of 103.65 million riyals ($28 million) between October and December. In the same period of last year, the company saw a loss of 624.14 million riyals ($166 million).
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