Riyadh – Mubasher: Profits of the energy sector on the Saudi Stock Exchange (Tadawul) declined by 55.4% in the third quarter of the year, according to a survey by Mubasher. 

Financial statements showed that net profits totalled SAR 350 million in Q3-18, compared with SAR 784.4 million for the same period in 2017. 

In the first nine months of the year, profits also decreased by 14% year-on-year. 

A drop in the profits of Rabigh Refining and Petrochemical by 65.6% to SAR 243 million, contributed the most to the decline, as the company accounted for 69.4% of the sector’s total earnings.