Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) achieved net profits after Zakat and tax worth SAR 1.19 billion during the first nine months of 2021.

This marked a jump of 246.8% from SAR 344.9 million in the January-September 2020 period, according to the financial results on Monday.

Earnings per share amounted to SAR 2.13 in the first three quarters of 2021, compared to SAR 0.61 in the same period in 2020.

Revenues surged by 50% to SAR 5.48 billion at the end of September this year from SAR 3.65 billion in the same period a year ago.

During the third quarter (Q3) of 2021, Yansab posted an 8% decrease in net profits to SAR 179.8 million, compared to SAR 195.6 million in Q3-20.

Revenues meanwhile grew by 23.5% to SAR 1.77 billion in Q3-21 from SAR 1.44 billion in Q3-20.

On a quarterly basis, the net profits in Q3-21 were 69.8% lower than SAR 596.3 million in Q2-21 and the revenues declined by 10% from SAR 1.98 billion.