The financial statements of the advanced petrochemical company showed the profits of the first quarter of this year decreased by 35.6% on an annual basis.
According to the results of the company for the Saudi market (Tadawul) yesterday, the profit for the period amounted to 104.33 million riyals, compared to 161.88 million riyals for the first quarter of last year. >
The company said in a statement to the Stock Exchange that the decline in profits during the comparison periods is due to the decrease in the amount of sales and prices of polypropylene by 8.1% and 10.3%, respectively, and the increase in the consumption of propane At 10.3%.
She also attributed the decline in profits to the share of the loss in the investment in SK Advanced Limited amounted to 18.19 million riyals in the first quarter of 2020 compared to the profit share of 20.70 million riyals in the same quarter. From 2019.
