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Tasnee net income slides on low TiO2 demand

8:58 AM MDT | October 17, 2012 | Natasha Alperowicz

Tasnee today reported a drop of 42.4% in third-quarter net income, to SR417.3 million ($111.3 million), and a 28% decline compared with the second quarter, when the company reported net income of SR580.1 million. Gross income in the third quarter was SR1.33 billion, a decline of 32.1%. Income from operations in the third quarter was down 39.3%, to SR963.1 million. Tasnee cites lower volumes and prices in the titanium dioxide (TiO2) sector, due mainly to low international...

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