Please wait...
GulfBase Live Support
- Dubai gold steadies near Dh492 while global traders rethink Fed outlook
- Zain's World opens its doors in KLand for third consecutive year
- Oman's total electricity production rises by 8.4%
- Oman's economy expected to grow 3.7% in 2026
- Total investment in Oman's economic and free zones reaches RO22bn
- Oil rises as Russian port suspends exports after Ukrainian attack
- GWC celebrates World Quality Week, showcasing its achievements
- AlRayan Bank unveils upgraded 'Al-Qimma' Visa Infinite Privilege Credit Card
- Inside Dubai's skyrocketing 'Mall Economy' and what's fuelling it
- Investcorp Capital buys US group Kanawha Scales & Systems
14/05/2017 07:38 AST
Saudi-based Advanced Petrochemical Company (APPC) has reported a eight per cent growth in its revenue for the first quarter to SR526.2 million ($140.2 million) compared to the same period last year despite a shutdown of eight days, said a report.
This was mainly because the product price was up around 20 per cent y-o-y, stated Saudi-based broker Al Rajhi Capital in its review.
However, the company has posted a net profit of SR124.4 million, lower than consensus (SR164 million) and the estimates of (SR159 million), it added.
Reported operating income and bottom-line came below Al Rajhi Capital estimates on account of lower-than-expected equity income from SK Advanced and higher than expected operating expense and operating leverage.
Given upward revision of prior period gross profits, some costs above the gross profit level could have been categorized to below gross level post migration to IFRS, a similar pattern observed with most of the companies in the sector in Q1, stated the Saudi brokerage in its review.
"On the whole, downward revision to prior net profits (these changes being non-cash) and lower than expected net profit in Q1 is unlikely to change our valuation of APPC materially," it added.
Trade Arabia
19/01/2016
Kuwait's Petrochemicals Industries Company (PIC) has agreed to buy a 25 percent equity stake in a venture owned by South Korea's SK Gas Co Ltd and Saudi Advanced Petrochemical Co, shareholders of the
Reuters
26/05/2015
The Board of Directors of Advanced Petrochemical Company in their meeting held on May 26th 2015 reviewed the financial and operational performance of the Company and has recommended to distribute div
Tadawul
24/03/2015
Saudi Arabia's Advanced Petrochemical said on Monday it had restarted production at its propylene and polypropylene plants after scheduled maintenance.
Full operational capacity at the two
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 59.45 | -0.05 (-0.09 |
| SABIC | 56.50 | -0.40 (-0.71 |
| SABICAGRINUTRIENTS | 118.80 | -0.80 (-0.67 |
| LIMEINDUSTRIES | 12.16 | 0.11 (0.91 |
| APICO | 36.92 | -0.08 (-0.22 |
17/11/2025
Zain Kuwait announced the launch of the new season of KLand for the third consecutive year as part of its ongoing strategic partnership with the Touristic Enterprises Company (TEC). The project conti
Kuwait Times
17/11/2025
Gulf Warehousing Company (GWC) celebrated World Quality Week 2025 on November 10-14, through a series of educational, and strategic activities highlighting the company's achievements, with the partic
Gulf Times
17/11/2025
AlRayan Bank (ARB) has announced the launch of its invitation-only "Al-Qimma" Visa Infinite Privilege Credit Card, a bespoke card proposition designed exclusively for a select circle of the Bank's cl
The Peninsula
17/11/2025
Investcorp Capital, a company founded by Investcorp and listed on the Abu Dhabi Securities Exchange (ADX), today (November 15) announced that it has acquired Kanawha Scales & Systems (KSS) from Ameri
Trade Arabia
17/11/2025
National Central Cooling Company (Tabreed) has announced the results for the nine-month period ended September 30, 2025, posting a group revenue of AED1.87 billion ($509 million), up 1% year-on-year.
Trade Arabia
Financial Information Co.
Saudi Arabia