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People & Business :: Earnings/Finance
Advanced Petrochemical reports higher second-quarter profits
12:10 PM MDT | July 7, 2014 | Natasha Alperowicz
Advanced Petrochemical Co. (Advanced; Al Jubail), a producer of polypropylene (PP), reports an increase of 35% in its second-quarter net profit, to 185 million Saudi riyals ($49.3 million). It also increased net profit 35% compared with the first quarter. Gross profit in the second quarter was up 28%, to SR193 million, and income from operations was 31% higher, at SR183 million. Advanced cites higher prices and PP quantities sold during the quarter. Advanced operates a propane dehydrogenation and PP manufacturing complex at Al Jubail...
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