14 January 2013 03:11 [Source: ICIS news]
SINGAPORE (ICIS)--Yanbu National Petrochemical Co’s (Yansab) fourth-quarter 2012 net profit fell by 3.6% year on year to Saudi riyal (SR) 640.8m ($170.9m), as earnings in the same period in 2011 were augmented by insurance claims settlement, the company said over the weekend.
Its operating income for October-December 2012 fell by 0.9% year on year to SR727.9m, it said in a filing to the Saudi Stock Exchange on 13 December.
For the whole of 2012, Yansab’s net profit fell by 23% year on year to SR2.45bn, while its operating income was down by 21% at SR2.88bn, the company said.
Yansab said that prices of most of its products fell last year, while higher volumes sold helped minimise the overall decline in earnings.
($1 = SR3.75)
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