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21/07/2016 05:13 AST
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 Saudi Basic Industries Corp. (SABIC), made a net profit of SR689.3 million ($183.8 million) in the three months to June 30, up from SR227.4 million 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 SR446.2 million.
Yansab cited a rise in production and sales volumes for the increase in profit, after the same quarter last year was impacted by maintenance work at its facilities. It also benefited this year from a decrease in some feedstock prices, although the average sales price for the majority of its products was lower.
The company's earnings have been hit hard by falling product prices, like many petrochemical firms in the Kingdom, as they are closely tied to slumping oil prices.
Arab News
14/04/2016
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 Indus
Gulfnews
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 |
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