Skip to content

Filter Options
Text :
Search Criteria :
Territory/Country :
Product Group/Product :
News Type :
My Favorites:
 

Saudi Yansab reports stronger financial results for Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 14/01/2015 (11:47)
According to media reports, Saudi Arabia’s Yanbu National (Yansab), a subsidiary of Saudi Basic Industries (SABIC), posted stronger financial results in the fourth quarter of 2014. The company’s net profit rose 39.7% year over year to 617.8 million riyals ($164.6 million) in the fourth quarter owing to higher production and stronger sales. In the same period of 2013, when the company had a month-long shutdown at its facility, Yansab’s net profit was reported at 442.2 million riyals.

However, the company’s net income declined to 2.48 billion riyals ($661 million) for the full year of 2014 from a net income of 2.64 billion riyals ($703 million) in 2013. The company attributed the yearly decrease in its net income to higher costs and lower sales prices when compared to the previous year.
Free Trial
Member Login