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Saudi Arabia's Yansab, Advanced, and Chemanol Report Higher Second-Quarter Profits

7:15 AM MDT | July 11, 2011 | Natasha Alperowicz

Yanbu National Petrochemical Company (Yansab; Yanbu, Saudi Arabia) reported a 92% increase in net profit to SR963.67 million ($257 million) in the second quarter of 2011. Net profit in the year-earlier period reached SR502.4 million. The company achieved a 34% increase in net profit compared to the first quarter. Operating profit in the second quarter reached SR1.08 billion compared to SR596.04 million in the corresponding period of last year, representing an increase of 82%. Net profit in the first six months of this year more than doubled to SR1.68 billion...

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