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Regions :: Middle East :: Saudi Arabia
Saudi Kayan reports huge full-year losses
7:44 AM MST | February 12, 2013 | Natasha Alperowicz
Saudi Kayan (Al Jubail), a Sabic affiliate engaged in the production of specialty chemicals, reported huge losses for the year 2012. Net loss was 772.27 million Saudi riyals ($205.9 million) compared with SR250.25 million in 2011. The per-share loss was SR0.515 compared with SR0.167 for 2011. Kayan’s gross profit in 2012 was SR151.61 million compared with SR32.44 million in 2011. Operating loss was SR178.84 million compared with a loss of SR56.16 million in 2011. Sales were not disclosed. The company started commercial operations on 1 October...
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