Yanbu National Petrochemical Company (Yansab) profits decreased by 73.25% in the first quarter of 2020.
According to ArabiaNet, the company’s data showed that the net profit of the company after zakat and tax amounted to 104.5 million riyals, compared to a net profit of 390.6 million riyals during the same period last year.
The company said the reason for the decrease in net profit is due to the decrease in the average selling prices of all products.
The company's revenue fell 21.5% to 1.195 billion riyals, compared to 1.522 billion riyals during the same period last year.
