Saudi’s Yansab Q4 net profit grows 20% on higher output, sales

16 January 2012 03:38  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s Yanbu National Petrochemical Co (Yansab) posted a 20% increase in fourth-quarter 2011 net profit at Saudi Riyal (SR) 664.9m ($177.3m) as production and sales volumes grew.

Compared to the third quarter results, however, Yansab’s earnings in the three months to December last year shrank by a fifth despite higher sales, as product prices fell, the company said in a statement issued to the Saudi Stock Exchange late on Sunday.

The company’s operating profit for the December quarter 2011 grew 9% year on year to SR734.2m, it said.

For the whole of 2011, Yansab said it had a 90% surge in net profit to SR3.17bn, with operating profit rising 77% to SR 3.62bn.

($1 = SR3.75)
By: Pearl Bantillo
+65 6780 4359



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