Saudi Firms Report Mixed Fourth-Quarter Results

YanSab, Saudi Kayan, both Sabic affiliates, Sahara Petrochemicals, Sipchem, and Ma’aden reported fourth quarter 2011 results, mostly down on the year-earlier period. YanSab, which started commercial operations at its Yanbu complex in March 2010, reported a 20% increase in fourth quarter net profit to SR664.88 million ($177.3 million) compared with the year-ago quarter but a drop of 20% on the third quarter of 2011. YanSab’s operating profit in the fourth quarter was 9% higher at SR734.2 million. Earnings per share for the 12 months period was SR5.643...

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