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21/07/2016 05:13 AST
Saudi Arabia's Yanbu National Petrochemical Co. (Yansab) beat analysts' forecasts on Wednesday as its second-quarter net profit trebled due to higher production and sales.
The firm, a subsidiary of Saudi Basic Industries Corp. (SABIC), made a net profit of SR689.3 million ($183.8 million) in the three months to June 30, up from SR227.4 million in the same period of 2015, it said in a bourse filing.
Five analysts polled by Reuters on average forecast Yansab would make a quarterly profit of SR446.2 million.
Yansab cited a rise in production and sales volumes for the increase in profit, after the same quarter last year was impacted by maintenance work at its facilities. It also benefited this year from a decrease in some feedstock prices, although the average sales price for the majority of its products was lower.
The company's earnings have been hit hard by falling product prices, like many petrochemical firms in the Kingdom, as they are closely tied to slumping oil prices.
Arab News
14/04/2016
Saudi Arabia's Yanbu National Petrochemical Co (Yansab) reported a 41 per cent rise in first-quarter net profit on Wednesday, beating analysts' forecasts. The firm, a subsidiary of Saudi Basic Indus
Gulfnews
14/01/2016
Yanbu National Petrochemicals Co. (YANSAB) posted a 36.37 percent decline in fourth-quarter net profit, it said on Thursday.
YANSAB owned by SABIC with 51% share, made a net profit of 393
GulfBase.com
09/06/2015
Saudi Arabia's Yanbu National Petrochemical Co (Yansab) has proposed a cash dividend of 1 riyal ($0.27) per share for the first half of 2015, it said in a statement on Tuesday.
The figure is
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 61.60 | -0.60 (-0.97 |
| SABIC | 55.50 | -0.25 (-0.45 |
| SABICAGRINUTRIENTS | 117.00 | 0.00 (0.00 |
| LIMEINDUSTRIES | 12.16 | 0.11 (0.91 |
| APICO | 36.92 | -0.08 (-0.22 |
26/11/2025
AI is driving generational opportunity across every industry, society, and economy - but at the crux of this global transformation is the crucial relationship between AI and energy, Aramco's Executiv
Arab News
26/11/2025
Efsim Facilities Management Company, a leading provider of integrated facilities management (IFM) services across the Kingdom of Saudi Arabia, today (November 25) announced its intention to proceed w
Trade Arabia
26/11/2025
GFH Partners, a Dubai International Financial Center (DIFC) headquartered investment manager and the global real estate investment arm of GFH Financial Group, has acquired a majority stake in Devmark
Trade Arabia
25/11/2025
Taqa Energy Services, a subsidiary of Abu Dhabi National Energy Company (Taqa), has signed an agreement with Sdeira Group, a subsidiary of AD Ports Group, to implement one of the emirate's largest bu
Trade Arabia
25/11/2025
Saudi Real Estate Company (Al Akaria) has announced the signing of a framework agreement with Expo 2030 Riyadh Company to execute the early works for the Expo 2030 Riyadh project.
The contra
Trade Arabia
Financial Information Co.
Saudi Arabia