Sun 26 Sep 2010 07:52 AM
Fahad Al Otaibi
6

Fahad Al Otaibi

Industry: Culture & Society

Designation: Saudi fertilizer behemoth SAFCO posted a massive 60 percent rise in net profit in H1 this year, compared to the same period last year.

Country: Saudi Arabia

Occupation: Saudi fertilizer behemoth SAFCO posted a massive 60 percent rise in net profit in H1 this year, compared to the same period last year.

$431,004

Saudi Arabian Fertilisers Company (SAFCO)

Saudi Arabia

Saudi fertilizer behemoth SAFCO posted a massive 60 percent rise in net profit in H1 this year, compared to the same period last year. The state-linked giant posted a cool $427m, which - with its staff count standing at a modest 990 - means each employee earned the company a whopping $431,004 return. Few GMs can boast those kinds of figures.

Safco, in which Saudi Basic Industries Corp holds a 43 percent stake, received a boost earlier this year, when it raked in SR263.4 from the sale of two land parcels. However, even without the help of its asset book, the firm looks set for a sunny year, helped by higher ammonia and urea prices.