The financial statements of the Advanced Petrochemical Company showed an increase in the company's profits in the first nine months of this year by 57.2% on an annual basis.

According to the company's results for the Saudi market (Tadawul), today, Sunday, the profits for the period amounted to 654 million riyals, compared to 416 million riyals, profits for the same period in 2020.

The company recorded a profit of 218 million riyals in the third quarter of this year, compared to 156 million riyals in profits for the same period of 2020, an increase of 39.7%.< /p>

The company attributed the increase in profits during the comparison periods to the increase in sales prices of the polypropylene product, despite the increase in the prices of propane and propylene purchased from external sources, and the increase in general and administrative expenses, freight charges, and lower profit share from investment in SK Advanced.