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People & Business :: Companies

YanSab Swings to Profit while Kayan Still Reports a Net Loss

4:00 AM MDT | May 11, 2010 | Natasha Alperowicz

Yanbu National Petrochemical Co. (YanSab), a Sabic affiliate, reported a net profit of SR259.3 million ($69.2 million) for the first quarter of 2010 ending March 31, against a net loss of SR8.24 million in the corresponding period of 2009 and a net loss of SR7.32 million in the fourth quarter of last year. Operating profit in the first quarter of this year reached SR310.38 million. The company's swing into profit follows the commissioning in the middle of last year of YanSab's SR20-billion petrochemical complex at Yanbu, Saudi Arabia. The complex is designed to...

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