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Regions :: Middle East

Sabic affiliates Saudi Kayan, Yansab, and Safco report mixed second quarter results

7:30 AM MDT | July 16, 2013 | Natasha Alperowicz

Saudi Kayan (Al Jubail) has reported a decline in losses for the second quarter. The company says it lost a net 238.24 million Saudi riyals ($63.5 million) in the second quarter compared with SR328.32 million in the year-earlier period. The operating loss was SR106.56 million compared with SR162.15 million in the second quarter of last year. The company cites lower prices and higher expenses. Volumes and costs were also impacted by the completion of a shutdown in the quarter. Sales have not been disclosed.   Commenting on the result, Hassan Ahmed...

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