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Regions :: Middle East :: Saudi Arabia

Tasnee's net profit slides on low TiO2 demand; Alujain improves performance

8:12 AM MST | January 21, 2013 | Natasha Alperowicz

National Industrialization Co. (Tasnee; Riyadh) reported a 56% drop in fourth-quarter net income to 242 million Saudi riyals ($64.53 million) compared with the year-earlier period and a 42% decrease on the net result in the third quarter. Gross fourth-quarter income was 24% down, at SR1.24 billion, while income from operations was 32% lower, at SR842.8 million. Sales were not disclosed.    Tasnee’s net income for the whole of 2012 was 28% lower, at SR1.76 billion. Earnings per share during the 12 months ended 31 December 2012 amounted to...

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