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Sahara Petrochemicals reports increase in fourth quarter profits

10:12 AM MST | January 21, 2013 | Natasha Alperowicz

Sahara Petrochemicals (Riyadh) has announced its fourth quarter and full year results. The company, a producer of olefins and polyolefins, says fourth quarter net profit reached SR64.49 million ($17.2 million), a huge increase over the year-earlier period when the company achieved a net profit of SR5.01 million. The company’s third quarter 2012 profit reached SR43.71 million. Fourth quarter operating profit rose to SR44.74 million from SR8.88 million in the same quarter of 2011. Sales figures were not disclosed.   However, Sahara’s net profit...

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