According to ArabiaNet, the company attributed in a statement the reason for the increase in net losses during the year 2019, compared to 2018, to the decrease in product prices in addition to recording a provision for a decrease in the value of assets amounting to SAR 9.2 billion.
Sadara’s losses for chemicals rose to 3.8 billion riyals at the end of the first nine months of 2019, compared to losses of 2.3 billion riyals in the same period of 2018.
As for the quarterly profits, Sadara Chemical Co. doubled its losses to 1.4 billion riyals, compared to a loss of 1.19 billion riyals in the third quarter of last year.
The company attributed the reason for the increase in net losses at the time to the decline in the prices of products in all sectors.
The company also attributed the reason for the high losses to the low margin of performance products, in addition to being affected by the lack of supplies of industrial materials from a third party that have been resumed.
