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29/10/2013 09:08 AST
Profits of Saudi Industrial Investment Group (SIIG) dropped by one percent to SR511 million in the last nine months of 2013 compared to SR517.6 million in the same period last year, local media said quoting a company's report.
The SIIG group, which is listed on Saudi stock exchange (Tadawul), attributed the fall in profits to the commercial operation of the National Petrochemical Company (PetroChem) and the rise in sales and distribution expenses.
Accordingly, share of the group's losses at PetroChem increased to SR70 million in Q3, 2013 from SR29 million in the comparable period last year, the report said.
The group cited other reasons for profits fall, including shutdown of Saudi Chevron Phillips (SCP) and Jubail Chevron Phillips (JCP) for regular and unscheduled maintenance works in Q1, 2013. Both companies are 50 percent owned by the SIIG.
However, there was an increase in the net profit in Q3 compared to the same quarter in 2012 due to the clear improvement in the results of the company's shared projects, SCP and JCP, the report said.
SIIG is said to be one of firms concerned with the improving and developing the industrial base in the Kingdom, especially the petrochemical industries. It has a varied products of ethylene, polyethylene, hexane, polypropylene, and polystyrene.
Arab News
31/01/2018
SIIG announces that its two projects Saudi Chevron Phillips (SCP) and Jubail Chevron Phillips (JCP) located in Jubail industrial city, have started their planned periodic maintenance shutdowns that i
Tadawul
20/03/2014
In reference to SIIG announcement on Tadawual website on 3-4-1435 corresponding to 3-2-2014, regarding the progress and developments of Petrochemical Conversion Company (PCC) at Jubail Industrial Cit
Tadawul
17/12/2012
SIIG Board of Directors, at its meeting held Sunday December 16th 2012; recommend to the General Assembly the distribution of SR (450) Million in dividends to shareholders for 2012 at SR (1) per shar
Tadawul
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 50.60 | 2.05 (4.22 |
| SABIC | 54.80 | -0.10 (-0.19 |
| SABICAGRINUTRIENTS | 104.20 | -5.00 (-4.58 |
| LIMEINDUSTRIES | 12.56 | -0.44 (-3.39 |
| APICO | 39.80 | -0.05 (-0.13 |
25/06/2025
Southern Province Cement Company has announced that it has entered into a non-binding agreement with a leading Saudi cement group Yanbu to explore a potential merger.
The duo had an year ag
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Burgan Bank announced the appointment of Mohammed Al-Roomi as Deputy General Manager of Information and Cyber Security Management. This strategic appointment reflects the Bank's unwavering dedication
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In line with its commitment to enriching its customers' banking experience and providing the best innovative digital services that meet their needs, the National Bank of Kuwait announced the launch o
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Kuwait Times
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Khaleej Times
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