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- Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group
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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 |
|---|---|---|
| SABIC | 62.00 | 0.80 (1.30 |
| MAADEN | 47.00 | 2.55 (5.73 |
| SABICAGRINUTRIENTS | 103.20 | -0.40 (-0.39 |
| MARBLEDESIGN | 76.00 | -0.70 (-0.92 |
| LIMEINDUSTRIES | 12.86 | 0.64 (5.23 |
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
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