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FinancialNews


  • 13-01-13

    Saudi SAFCO reports USD305.2m profit in Q4

    (MENAFN) Saudi Arabian Fertilisers Company (SAFCO) reported a 10.3 percent drop in quarterly earnings on lower Urea prices, Reuters reported. The affiliate of Saudi Arabia Basic Industries Corp (Sabic) said it made USD305.2 million net profit during the fourth quarter ended December 31, down from USD340.1 million a year earlier. Operating profit for the period also declined by 7 percent to USD266.3 million from USD292.93 million a year ago, the company said. Another reason for the weaker quarterly results was lower sales volume owing to factory maintenance.

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