YANSAB’s Profits Jump 720.4% During Second Quarter to SAR 224.8 Million

Yanbu National Petrochemical Co. (YANSAB) announced a significant increase in net profit for the second quarter, reaching 224.8 million riyals, a 720.4% rise compared to 27.4 million riyals in the same quarter last year. This follows today’s release of preliminary financial results for the period ending June 30, 2024.

Operating profit for the second quarter reached 207 million riyals, up from 13 million riyals in the same quarter of the previous year, marking an increase of 1492.3%.

Total shareholders’ equity (excluding minority interests) amounted to 11.7 billion riyals for the six-month period, compared to 12.4 billion riyals in the same period last year, reflecting a decrease of 5.8%.

Earnings per share in the current period stood at 0.58 riyals, compared to a loss of 0.61 riyals in the same period last year.

YANSAB’s Profits Jump 720.4% During Second Quarter to SAR 224.8 Million

Yanbu National Petrochemical Co. (YANSAB) announced a significant increase in net profit for the second quarter, reaching 224.8 million riyals, a 720.4% rise compared to 27.4 million riyals in the same quarter last year. This follows today’s release of preliminary financial results for the period ending June 30, 2024.

Operating profit for the second quarter reached 207 million riyals, up from 13 million riyals in the same quarter of the previous year, marking an increase of 1492.3%.

Total shareholders’ equity (excluding minority interests) amounted to 11.7 billion riyals for the six-month period, compared to 12.4 billion riyals in the same period last year, reflecting a decrease of 5.8%.

Earnings per share in the current period stood at 0.58 riyals, compared to a loss of 0.61 riyals in the same period last year.

The increase in net profit is attributable mainly to higher average sales prices for some of the products, in addition to higher production and sales quantity compared to similar quarter last year.

The increase in revenues is attributable mainly to higher production and sales quantity, In addition to higher average sales prices for some of the products compared to previous quarter.

The increase in net profit is attributabl

e mainly to higher production and sales quantity, In addition to higher average sales prices for some of the products compared to previous quarter.

The increase in revenues is attributable mainly to higher production and sales quantity, in addition to higher average sales prices for some of the products compared to similar period last year.

Noting that in similar period last year scheduled turnaround of the company’s complex for preventive maintenance from 10 January 2023 to 02 March 2023 as announced on Tadawul’s Website on 20 November 2022 and 02 March 2023.

The achieved net profit is attributable mainly to higher production and sales quantity, in addition to higher average sales prices for some of the products compared to similar period last year.

Noting that in similar period last year scheduled turnaround of the company’s complex for preventive maintenance from 10 January 2023 to 02 March 2023 as announced on Tadawul’s Website on 20 November 2022 and 02 March 2023.