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Saudi Yansab’s net profit slump 63% in Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 14/07/2015 (14:08)
According to media reports, Saudi Arabia’s Yanbu National Petrochemical Company (Yansab), a subsidiary of SABIC, saw its net profit slump 63% in the second quarter of this year. The company’s net profit declined to SAR227.4 million ($60.6 million) in the April- June period from SAR613 million ($163.4 million) in the same period of last year. Reuters’ analysts expected the company’s to post a profit of SAR213 million ($56.7 million) in the second quarter.

The decrease was attributed to lower production and sales volumes.
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