Riyadh - Mubasher: The Saudi Industrial Export Company (SIEC) has reported profits of SAR 320,000 in the second quarter of 2018, against losses of SAR 13.2 million for the same period last year.

Profits dropped 97.5% compared with the previous quarter, in which it totalled SAR 12.6 million, as shown by the quarterly financial results.

As for the first half of the year, profits reached SAR 12.9 million, versus losses of SAR 12 million in H1-17, according to company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

SIEC attributed turning to profits to the increase of sulfur exporting by Aramco, other operations involving plastic products and raw materials, as well as lower managerial and general costs.