Saudi Sipchem’s profits rise 10-fold to about one billion riyals in the third quarter of 2021 | latest news

Saudi Sipchem’s profits rise 10-fold to about one billion riyals in the third quarter of 2021 | latest news
Saudi Sipchem’s profits rise 10-fold to about one billion riyals in the third quarter of 2021 | latest news

Sahara International Petrochemical Company, Sipchem, achieved profits of 1.029 billion riyals in the third quarter of this year, a tenfold increase from the same quarter of last year, which amounted to 10 million riyals.

The company attributed this jump in profits as a result of the increase in selling prices for all the company’s products, which contributed to the increase in profit margins despite the increase in the prices of raw materials such as butane, ethanol, ethylene and propane.

In addition, the share of profits from investing in a joint venture and associate companies increased, and financing costs decreased.

Source

Saudi Sipchems profits rise #10fold billion riyals quarter latest news

 
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