2020.B
Riyadh – Mubasher: Saudi Arabia Fertilizers Company (SAFCO) on Wednesday reported a 177.2% year-on-year profit surge for the third quarter of 2018.
Net profits amounted to SAR 522.24 million in Q3-18, compared to SAR 188.42 million in Q3-17, according to a filing to the Saudi Stock Exchange (Tadawul).
The third-quarter profit increase was attributed to a rise in sold quantities and an increase in average selling prices of the company’s products, in addition to a growth in the company’s share of the profit from Ibn Al-Baytar Company.
For the first nine months of 2018, SAFCO’s profits jumped 43.3% to SAR 1.17 billion, versus SAR 816.12 million in the same period of the prior year.
By the end of Wednesday’s session, SAFCO’s stock rose 0.13% at SAR 79.80.