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Sahara Petrochemicals Q2 profit tumbles 94%

Sahara Petrochemicals Q2 profit tumbles 94%
Photo Credit: Arabianeye - Reuters
Sahara
2260
1.16% 17.46 0.20

Riyadh – Mubasher: Sahara Petrochemicals Co. (SPCO) posted a 93% drop in net profit for the second quarter of 2015 to SAR 11.4 million, down from SAR 185 million in the same period a year earlier.

Meanwhile, H1-15 financial results showed SAR 38.1 million net loss, against SAR 284.9 million net profit in H1-15.

The company attributed the profit fall to a decrease in sales and product prices.