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Yansab’s profit falls 71% in 3M

Yansab’s profit falls 71% in 3M
Net profits after zakat and tax recorded SAR 212.1 million in Q3-19
YANSAB
2290
0.58% 68.90 0.40

Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) posted its interim financial results for the third quarter of 2019.

Net profits after zakat and tax fell by 70.9% to SAR 212.1 million in Q3-19, compared to SAR 729 million in Q3-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.

The company attributed the fall to the drop in sales.

For the first nine months of 2019, Yansab’s net profits plunged by 57.86% to SAR 918.8 million, from SAR 2.18 billion in the same period of the prior year.

Profit per share stood at SAR 1.63 by the end of September, compared to SAR 3.88 in the corresponding period the year before.