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Several Saudi firms report second-quarter earnings

1:45 PM MDT | July 17, 2014 | Natasha Alperowicz

Several Saudi Arabian petrochemicals producers have reported their second quarter results. Sabic affiliate Saudi Kayan losses in the quarter have narrowed. The company reported net loss of 133.1 million Saudi riyal ($35.5 million) in the second quarter compared with a net loss of SR238.2 million in the corresponding quarter of last year. Operating profit was SR4.8 million compared with an operating loss of SR106.5 million in the second quarter of 2013. The company cites higher prices and volumes for the improvement in results. Sales were not disclosed.  ...

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