14 Hrs
Source:
الاقتصادية
Yansab profits rise 220% amid higher sales
Yansab, the Yanbu National Petrochemical Company, reported a 220% increase in net profit for the third quarter of this year, reaching 237.3 million SAR compared to 74.2 million SAR in the same period last year. This rise was driven by higher sales volumes and increased average selling prices, despite rising production input costs. Quarterly revenues grew by 27.5% to 1.67 billion SAR. The CEO emphasized a focus on improving operational efficiency, even as global challenges such as price volatility and logistics costs persist. The company anticipates that geopolitical tensions will continue to impact supply chains and costs, while an improving chemical sector, supported by industrial growth, offers some optimism. The Saudi Basic Industries Corporation (SABIC) holds a majority stake of 51% in the company and benefits from a strategic location in Yanbu Industrial City, which facilitates the export of its products via the Red Sea.
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