Riyadh – Mubasher: The net profits of Yanbu National Petrochemical Company (Yansab) fell by 7.8% year-on-year (YoY) over the third quarter (Q3) of 2020 to reach SAR 195.6 million.

The drop in net earnings during Q3 was ascribed to lower average sales prices for most products and higher production’s inputs average cost despite the growth in production and sales quantity, according to a bourse statement on Sunday.

Revenue for the three-month period ended on 30 September 2020 hit SAR 1.44 billion, a yearly rise of 1.3% when compared to SAR 1.42 billion in the same period in 2019.

In the first nine months of the year, the Saudi firm’s profits stood at SAR 344.9 million, posting a YoY decline of 62.5%.