Riyadh – Mubasher: Yanbu National Petrochemical Company (YANSAB) on Sunday reported a 13.1% year-on-year profit growth for the third quarter of 2018.

Net profits amounted to SAR 729 million during the three-month period ended September, from SAR 644.6 million in Q3-17, according to the company’s statement at the Saudi Stock Exchange (Tadawul).

During the first nine months of 2018, the Saudi firm’s net profits jumped 18.9% to SAR 2.18 billion, compared to SAR 1.6 billion in the same period of the previous year.

The net profit increase was attributed to higher average sales prices for most of the products, despite the increase in prices of some feedstock materials.

By the end of Sunday’s session, YANSAB’s stock rose 2% at SAR 65.