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20/10/2015 05:33 AST
Saudi Arabia's National Industrialization Co. (Tasnee) swung to a loss in the third quarter as it was hit by both lower sales and prices.
Tasnee, which had reported losses in the preceding two quarters as well, made a loss of SR296.3 million ($79.0 million) in the three months to Sept. 30 compared to a profit of SR243.7 million in the prior-year period, according to a bourse filing.
Three analysts had forecast on average the firm would make a quarterly net profit of SR56.4 million.
The diversified industrial firm has interests in petrochemicals, metals and chemicals and is one of the world's largest producers of titanium dioxide through its Cristal subsidiary.
It cited "lower average sales prices and lower sales volumes" for the decline.
Arab News
18/04/2016
Saudi Arabia's National Industrialization Co (Tasnee) posted a narrower first-quarter net loss, beating analysts' forecasts due to higher sales volumes and not suffering the same negative impact from
Reuters
27/04/2015
Saudi Arabia's National Industrialisation Company (Tasnee) said it has chosen Taiwan's CTCI and Japan's Chiyoda Corp to build a titanium sponge plant for its majority-owned Cristal subsidiary.
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Reuters
21/04/2015
Saudi Arabia's National Industrialization Company (Tasnee) said on Monday it would cut costs and revise foreign exchange and derivatives contracts at a subsidiary after swinging to a first-quarter lo
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 59.55 | 0.00 (0.00 |
| SABIC | 54.95 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| YANSAB | 30.42 | -0.10 (-0.33 |
| LUBEREF | 94.70 | 0.75 (0.79 |
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Financial Information Co.
Saudi Arabia