15 October 2012 03:45 [Source: ICIS news]
Lower production volume and sales because of a planned turnaround at a plant, which is owned by affiliate Al Waha during the quarter, also affected Sahara Petrochemicals’ earnings, it said in a filing to the Saudi Stock Exchange or Tadawul on Sunday.
The company’s gross profit fell by 79% year on year to SR9.7m in the third quarter of this year.
Sahara Petrochemicals incurred an operating loss of SR7.2m in the third quarter of this year, reversing a profit of SR27.9m in the same period 2011, the company said in a statement.
In the first nine months of this year, the company’s net profit fell by 66% year on year to SR139.9m.
The company swung to an operational loss of SR78.2m in the January-September period from a profit of SR158.8m in the same period in 2011.
($1 = SR3.75)
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