YanSab Reports Drop in Q2 Profits, Cites Lower Prices

YanSab (Yanbu', Saudi Arabia), an affiliate of Sabic, reported a second quarter net profit of SR649.61 million ($173.2 million), which is a 33% drop compared to the same quarter last year. Gross profit in the second quarter was SR 824.89 million, 27.6% down from the same quarter of 2011, and operating profit was close to 30% down, at SR764.85 million. Net profit for the first six months of this year was 18.5% down, at SR1.37 billion. Earnings per share in the first six months were SR2.435 compared with SR2.989 for the same period last year...

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