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- Presight Q3 revenue up 15.3%; firm accelerates global expansion
- Abu Dhabi Islamic launches debut AED-denominated sukuk for investors
- Al Salam Bank delivers record profitability in Q3
- flynas launches "Saudi Experiences" to boost tourism, support communities
- Adnoc Gas records Q3 net income of $1.3bn, up 8pc
- Jacobs JV with AECOM to deliver design services for Riyadh's The Mukaab
- TAQA reports 9-month profit of $1.66bn
- Asian stocks rise with focus on Fed, tech as US government reopens
- KIPCO reports a net profit of KD 13.4 m for first 9 months
- Ahli Bank issues QAR 500 million bonds
14/04/2016 05:51 AST
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 Industries Corp (SABIC), made a net profit of 401.9 million riyals ($107.2 million) in the three months to March 31, up from 285.1 million riyals 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 310.8 million riyals.
Yansab attributed the increase in profit to decreases in feedstock prices, which helped boost profit despite lower average sale prices for most products.
Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.
The increase came after four quarters of falling profits for Yansab. Like many petrochemical firms in the kingdom, the company's earnings have been hit hard by falling product prices, as they are closely tied to slumping oil prices.
Saudi producers have benefited from subsidised energy and feedstock costs, so lower crude prices compress their margins.
That is changing though, as the Saudi government reforms energy subsidies to help it close a substantial budget deficit.
Yansab said in February that fuel and electricity price hikes would raise its production costs by 1 per cent in 2016.
This was lower than the 6.5 per cent estimate given at the end of last year.
Gulfnews
21/07/2016
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
Arab News
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 | 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 |
14/11/2025
Presight AI Holding, a leading Abu Dhabi-based global big data analytics company powered by AI, has reported another period of strong performance for the third quarter driven by robust international
Trade Arabia
14/11/2025
Abu Dhabi Islamic Bank (ADIB), in collaboration with the Ministry of Finance, has launched the first UAE Dirham-denominated sovereign sukuk for individual investors via the ADIB Smart Sukuk Platform.
Trade Arabia
14/11/2025
Al Salam Bank has announced record profitability for the nine months ended September 30, marking another milestone in its transformation into one of the region's leading and fast-growing financial gr
Trade Arabia
14/11/2025
flynas, a low-cost airline in the Middle East, announced the launch of the "Saudi Experiences" initiative. This is in collaboration with the Saudi Tourism Authority.
The announcement was mad
Trade Arabia
14/11/2025
Adnoc Gas has announced its Q3 2025 results, achieving the highest third quarter net income in its history at $1.34 billion, an 8 per cent increase year-on-year.
Year-to-date net income reac
Trade Arabia
Financial Information Co.
Saudi Arabia