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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 | 59.55 | 0.00 (0.00 |
| SABIC | 54.95 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| LUBEREF | 94.70 | 0.75 (0.79 |
| ALBH | 1.08 | 0.00 (0.00 |
06/02/2026
Over three days at the Kuwait Oil & Gas Show and Conference (KOGS 2026), National Bank of Kuwait took part in dynamic networking activities, expert-led discussions, and targeted knowledge-sharing eng
Kuwait Times
06/02/2026
AD Ports Group, a leading global enabler of integrated trade, industry and logistics solutions, on Thursday signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to manage an
Trade Arabia
06/02/2026
NMDC Group, a global leader in engineering, procurement, construction and marine dredging, today announced a strong set of financial results for 2025, reporting revenues of AED28.8 billion ($7.84 bil
Trade Arabia
05/02/2026
Invest Qatar, the Investment Promotion Agency of Qatar, and Doha Bank have announced a strategic partnership aimed at further enhancing the ease of doing business for foreign investors entering the Q
Gulf Times
05/02/2026
In celebration of Kuwait's national holidays, in which the country commemorates its beautiful history and achievements, National Bank of Kuwait announced a limited-edition issuance of KWD Visa Prepai
Kuwait Times
Financial Information Co.
Saudi Arabia