Saudi's Yanpet says Q2 net profit grew 3.2%

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Yanpet said gross profit had fallen by 2.1 percent in the same period.

Yanpet said gross profit had fallen by 2.1 percent in the same period.

Yanbu National Petrochemical Co (Yanpet) said on Sunday its second-quarter net profit grew 3.2 percent on an annual basis to 671 million riyals ($179 million) due to lower financial charges, despite a fall in its sales.

The company, a unit of Saudi Basic Industries Corp , one of the world's largest petrochemical companies, said gross profit had fallen by 2.1 percent in the same period.

However, while sales were lower than a year ago, they were higher than in the first quarter of this year, Yanpet said in a bourse statement.

Related:
Topics
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia adds to oil power with new refineries

Saudi Arabia adds to oil power with new refineries

Two state-of-the-art plants set to redefine Gulf kingdom's role...

Focus: How low can the oil price fall?

Focus: How low can the oil price fall?

The startling fall in the oil price has renewed questions about...

Saudi Arabia, Kuwait shared zone tensions underlie oilfield closure

Saudi Arabia, Kuwait shared zone tensions underlie oilfield closure

Crude output from jointly-run offshore Khafji oilfield has been...

Most Discussed