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Saudi Arabian firms report mixed first-quarter results

4:36 AM MDT | April 15, 2013 | Natasha Alperowicz

A number of Saudi Arabian firms have reported their first quarter 2013 earnings. Saudi Kayan, a Sabic affiliate, reports a net loss of 154.87 million Saudi riyals ($41.3 million) for the quarter ended 31 March, compared with a net loss of SR71.12 million in the first quarter of 2012 and a loss of SR194.45 million in the fourth quarter of 2012. Sales have not been disclosed.   Kayan’s gross profit for the first quarter of 2013 was SR58.73 million compared with SR132.23 million in the same quarter last year. Operating loss in the first quarter of this...

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