Feedstock prices put pressure on Yansab’s profits

Wassim Jumaa, head of investment at Capital Investments, said that the rise in oil prices raises feedstock prices, which puts pressure on the profits of companies such as Yansab, adding that July witnessed the suspension of one of the company’s production lines, which also affected its quarterly results.

In an interview with Al Arabiya, he expected that pressures would continue with the rise of oil.

And the data of Yanbu National Petrochemical Company “Yansab” showed a decrease in profits after zakat and tax in the third quarter of 2021 by 8.07% to 179.8 million riyals, compared to 195.6 million riyals in the same period of 2020.

 
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