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People & Business :: Earnings/Finance
Saudi firms announce improved fourth-quarter earnings
7:04 AM MST | January 20, 2014 | Natasha Alperowicz
Saudi Kayan, a Sabic affiliate; Alujain, parent of polypropylene (PP) producer Natpet; Sipchem; and Saudi Chemical Co., have announced better earning results in the fourth quarter of last year. Kayan reported a 3.42 million Saudi riyal ($0.912 million) net profit in the fourth quarter compared with a loss of SR194.5 million in the corresponding period of 2012. Operating profit was SR154.6 million compared with a SR67.5 million loss in the year-earlier quarter. Kayan cites an improvement in prices for most of the company’s products. Sales were not disclosed...
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