Saudi Kayan Petrochemical Company incurred losses amounting to 943 million riyals during the first nine months of 2020, compared to 469.4 million riyals, in the corresponding period of last year, with an increase in the value Losses 101%.
According to Arabiya Net, the company incurred quarterly losses in the third quarter of 2020, amounting to 28.2 million riyals, compared to 1.26 million riyals profits.
Losses decreased by 93%, compared to the losses of the previous quarter, which was 398 million riyals.
Kayan attributed its third-quarter losses to a decrease in the average selling prices of products, despite an increase in the quantities sold, a decrease in the average cost of feedstock, a decrease in financing costs and general and administrative expenses .
