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Saudi’s Sipchem swings to a net loss in Q3

by ChemOrbis Editorial Team -
  • 20/10/2016 (16:14)
According to media reports, Saudi International Petrochemical Co. (Sipchem) posted a net loss of SAR59 million ($15.7 million) in the July-September period. The company saw a loss of SAR71.6 million ($19 million) in the same period of 2015. The company has seen falling profits for the past five quarters.

The company’s Q3 net loss also misses analysts’ average estimates which called for a net profit of 30.6 million riyals.
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