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Kayan cuts Q3 losses to 94.2M Riyals
Kayan Saudi Petrochemical Company announced that it reduced its net losses in the third quarter of 2026 by 72% year-over-year, amounting to 94.2 million riyals, compared to a loss of 336.25 million riyals in the same period last year. The losses also decreased significantly by 86% compared to the previous quarter, which recorded a loss of 672.76 million riyals. The company attributed this improvement to higher selling prices, cost-cutting initiatives, and the reversal of spare parts provisions, despite increased costs for some production inputs and a decline in sales volumes due to supply chain challenges. Revenues saw a slight increase of 1.63% to 2.187 billion riyals. However, profits for the first nine months of the year declined by 14.1% to 1.38 billion riyals, amid continued impacts from lower sales volumes and higher logistics costs. The company's accumulated losses reached 7.28 billion riyals, representing 48.54% of its capital.
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