Riyadh – Mubasher: Saudi Arabia Refineries Company (SARCO) moved to net profits of SAR 386,080 during the third quarter (Q3) of 2020, against net losses of SAR 828,335 in the year-ago quarter.

The company recorded revenues worth SAR 864,130 during the July-September period, according to a bourse statement on Monday.  

The turn to profits was supported by the dividends payable for the first half of 2020 worth SAR 271,498 from Southern Province Cement Company, an investor company, coupled with a higher share from the profits of ArabTank Terminals Company, an associate.

In the first nine months of 2020, the earnings tumbled by 21.4% yearly, reaching SAR 6.4 million.