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Markets :: Basic Chemicals :: Petrochemicals :: Propylene

Advanced more than doubles second-quarter profits on higher volumes and lower feedstock prices

7:55 AM MDT | July 8, 2013 | Natasha Alperowicz

Advanced Petrochemical Co. (Al Jubail), a producer of propylene and polypropylene, has announced preliminary interim financial results for the period ended 30 June. The company reports a more than doubling of net profits, to 137 million Saudi riyals ($36.5 million), in the second quarter compared with SR53.9 million in the corresponding period of 2012. The profits were also 16% higher than in the first quarter of 2013. The estimated gross profit in the second quarter was SR151 million compared with SR67.8 million in the year-earlier period. Operating income in...

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