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Regions :: Middle East :: Saudi Arabia

Saudi Arabian chemical producers report mixed third-quarter results

12:35 PM MDT | October 11, 2012 | Natasha Alperowicz

Advanced Petrochemical (Advanced), a producer of polypropylene, reported a 26% drop in third-quarter 2012 profit, to SR100.3 million ($26.7 million), compared with the year-earlier period. The result was higher than the preceding quarter, however, when the company achieved a net profit of SR53.8 million. Advanced’s income from operations in the third quarter was SR105.5 million, compared with SR141.2 million in the year earlier. Advanced cites lower prices in the third quarter. Sales figures were not disclosed.   Saudi Arabian Mining Co., meanwhile...

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