Saudi's Safco Q4 profit falls 51.4pc
DUBAI, January 15, 2016
Saudi Arabia Fertilizers Co (Safco) missed analyst forecasts, reporting a 51.4 per cent decline in fourth-quarter net profit on Thursday as average product prices fell.
Safco, a unit of Saudi Basic Industries Corp (Sabic), made a net profit of SR379 million ($101.1 million) in the three months to December 31, down from SR779 million in the year-earlier period, it said in a bourse statement.
The firm was forecast by analysts to make SR474.4 million during the quarter. - Reuters
