S Arabia’s Sahara Q3 net profit surges on higher sale prices
10 October 2013 11:25 [Source: ICIS news]
DUBAI (ICIS)--Saudi Arabia’s Sahara Petrochemicals said on Thursday its third-quarter net profit surged to Saudi riyal (SR) 148.4m ($39.6m) from SR43.7m in the same period a year earlier, partly boosted by higher sales prices and lower feedstock costs.
Its gross profit rose to SR98.9m in July-September this year from SR9.7m in the same period in 2012, the company said in a statement issued to the Saudi stock exchange.
The company posted an operating profit of SR69.3m in the third quarter of this year, versus an operating loss of SR7.2m in the same period last year, it said.
Its net profit nearly tripled to SR400.5m in the first nine months of this year from SR139.9m in the same period in 2012.
($1 = SR3.75)By: Aamir Ashraf
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