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People & Business :: Earnings/Finance
Yansab's profits double, Methanol Chemical Co.'s are down
7:53 AM MDT | October 22, 2013 | Natasha Alperowicz
Citing higher production and sales volumes and improved prices, Yanbu National Petrochemical Co. (Yansab; Yanbuʿ, Saudi Arabia), a Sabic affiliate, today reported a large increase in profits. Lower financial charges also contributed to the improved results. Net profit in the third quarter of this year was 864.8 million Saudi riyals ($230.6 million), a 98.5% increase on the corresponding period of 2012. Operating profit was 78% higher, at SR957.2 million. Sales have not been disclosed. Yansab’s net profit for the first nine months of this year rose 22%, to...
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