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Saudi Yansab Q1 net profit down 7.4pc

Riyadh, April 13, 2013

Saudi Yanbu National Petrochemical (Yansab) posted a 7.4 per cent drop to SR667.07 million ($177.88 million) in net profit for the first quarter on Saturday, beating analysts' expectations of SR577.46 million.

Yansab, an affiliate of Saudi Basic Industries Corporation, attributed the decline in profits to "lower production and sales" because of maintenance at its ethylene glycol unit.-Reuters

Tags: Saudi | petrochemical | Yansab |

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