Yanbu National Petrochemical Company has achieved great growth in profits by 302%, net profit exceeds 420 million riyals from Chapter I of 2021, compared to SAR 104.5 million in 2020.
According to Arab Net, there is a net profit, according to the company's statement on the Saudi market site trading, to higher the average selling prices for all products despite the low quantities and is due to stop the scheduled for some factories for preventive maintenance, as announced on the Saudi financial market site (Tadawul) on 26 January 2021, as well as an average cost of certain financial materials, as well as an accounting accounting for capital costs under implementation by SR 64 million.
The net profit of Yansab, rose 94.67% in the fourth quarter of 2020, to 332.7 million riyals, after zakat and tax, for 170.9 million riyals in the same quarter of 2019.
The net profit of Yansab increased by 70.1% during the fourth quarter compared to net profit 195.6 million riyals in the third quarter of 2020.
The Saudi Financial Market Statement has also increased net profit on an annual basis, to high price for most of the products despite lower quantities produced and sold.
