Riyadh - Mubasher: Saudi Kayan Petrochemical Company posted an increase in profits by 148.7% for the second quarter of 2017 compared to the same quarter of last year, and a decline of 8.8% compared to the previous quarter.
The company said in a statement to the Saudi Stock Exchange (Tadawul) on Monday that net profits reached SAR 242.01 million in Q2-17 compared to SAR 97.31 million for the same period last year.
According to the company’s statement, the rise in profits is attributed to the increase in sales values and volumes as well as a slight increase in average selling prices, and an improvement in operational performance.
As for the first half of 2017, profits totalled SAR 507.5 million in the six-month period versus losses of SAR 97.7 million in H1-16.
