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Advanced profits fall 94.44% Q3 2026
Advanced Petrochemical Company’s profits declined by 94.44% in the third quarter of 2026, reaching approximately 4 million riyals compared to 72 million riyals in the same period last year, despite a 12% increase in production volumes and an 8% rise in propane prices. The return to profitability on a quarterly basis was driven by a 4% decrease in revenues, which fell to 974 million riyals from 1.02 billion riyals, due to a 20% drop in sales resulting from logistical challenges caused by geopolitical tensions. For the first nine months of the year, the company recorded a loss of 65 million riyals, compared to a profit of 225 million riyals in the same period last year, even though sales increased by 23.6% to 2.88 billion riyals.
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