Riyadh – Mubasher: National Industrialisation Co. (Tasnee) achieved net profits of SAR 103.9 million ($27.7 million) in the second quarter of 2016 against SAR 107.7 million ($28.7 million) net losses in the same quarter of 2015.

“The reported profits are attributable to operational improvements, decrease in certain feedstock cost and increase in other income, despite the lower average sales prices for certain products and higher financial charges,” according to a bourse filing on Tuesday.

The Saudi-listed company achieved SAR 9.1 million profits in H1-16 versus SAR 440.2 million losses in H1-15.