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Advanced Q3 profit plunge
Advanced Petrochemical Company’s profit fell 94.44% year over year in the third quarter of 2026, to SAR 4 million from SAR 72 million. However, the company returned to profitability after posting a loss of SAR 98 million in the previous quarter. The company attributed the decline to a 4% drop in net revenue and an 8% rise in propane prices. Sales volumes fell 20% amid logistical challenges related to geopolitical conditions, despite a 12% increase in production and a 20% rise in average selling prices. Sales declined 4.32% to SAR 974 million. For the first nine months of the year, the company recorded a loss of SAR 65 million, compared with a profit of SAR 225 million in the same period last year.
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