People & Business :: Earnings/Finance
Yansab reports a decline in profits on lower product prices
7:24 AM MST | February 11, 2013 | Natasha Alperowicz
Yanbu National Petrochemical (Yansab; Yanbuʿ, Saudi Arabia), a Sabic affiliate, reports a 23% decline in full-year 2012 net income, to 2.45 billion Saudi riyals ($652.3 million). Earnings per share were SR4.349 compared with SR5.643 in 2011. Gross profit was SR3.11 billion compared with SR3.83 billion in 2011. Operating income was down 20.5%, to SR2.88 billion. Revenues have not been not disclosed. Yansab, a producer of ethylene, propylene, ethylene glycol, linear low- and high-density polyethylene, polypropylene, methyl tert-butyl...
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