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Saudi Kayan narrows losses in 2013

8:50 AM MST | February 13, 2014 | Natasha Alperowicz

Saudi Kayan, an affiliate of Sabic, has reported a 55% lower net loss in 2013 compared with the year earlier. Net loss in 2013 reached 346.4 million Saudi riyals ($92.4 million) compared with a net loss of SR772.3 million in 2012. Saudi Kayan reports an operating profit of SR235.5 million in 2013 compared with an operating loss of SR178.8 million in 2012. Sales have not been disclosed.   The company cites an improvement in prices for most of its products, an increase in volumes, and lower financial charges for the improvement in...

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