Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has posted net profits after Zakat and tax worth SAR 571.50 million in the first half (H1) of 2022, an annual drop of 43.80% from SAR 1.10 billion.

The company's revenues soared by 8.81% to SAR 4.03 billion in H1-22, compared to SAR 3.70 billion in the year-ago period, according to the interim financial results on Monday.

Furthermore, the earnings per share (EPS) settled at SAR 1.02 in the first six months (6M) of 2022, lower than SAR 1.81 during the same period a year earlier.

In the second quarter (Q2) of 2022, Yansab registered SAR 288.50 million in net profit after Zakat and tax, a 51.62% year-on-year (YoY) plunge from SAR 596.30 million.

Meanwhile, the Q2-22 revenues stood at SAR 2.06 billion, a 3.96% YoY growth from SAR 1.98 billion.

Last June, the Saudi listed firm paid cash dividends worth SAR 843.75 million, accounting for 15% of the capital, for H1-22.

During the January-March 2022 period, the petrochemicals manufacturer's net profits after Zakat and tax plummeted by 32.66% YoY to SAR 283 million, compared to SAR 420.30 million.