The financial statements of the Advanced Petrochemical Company showed the estimated profits of the company in the first quarter of this year by 35.8% on an annual basis.

According to the results of the company for the Saudi market (Tadawul) today, Sunday, the profits for the period amounted to 104 million riyals, compared to the profits for the first quarter of last year amounting to 161.88 million riyals. p>

The company said in a statement to the Stock Exchange that the decrease 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. Propane consumption increased by 10.3%

I 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 compared to the profit share of 20.70 million riyals for the same quarter of 2019 .

The company's profits decreased by 45.8% compared to the fourth quarter of last year, which amounted to 45.84 million riyals at the time.