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JEDDAH, Saudi Arabia, Jan 12 (Reuters) - Saudi Arabian Fertilizers Co 2020.SE (SAFCO) posted a 10.3 percent decline in fourth-quarter net profits, missing analyst forecasts, due to lower Urea prices, the firm said in a bourse statement on Saturday.

Safco, the affiliate of the world's biggest petrochemical company by market value, Saudi Basic Industries (SABIC)

2010.SE , made 1.146 billion riyals in the three months ending on Dec. 31 compared with 1.277 billion riyals in the same period a year earlier, it said.

Nine analysts polled by Reuters expected the firm to post on average a 3.4 percent rise in its fourth-quarter net profit.

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"The decrease in the fourth quarter, 2012 compared to the same quarter last year is due to lower Urea prices," Safco said.

Operating profit for the fourth quarter fell by 7 percent to 1 billion riyals from 1.1 billion in the same period a year earlier.

(Reporting by Asma Alsharif; editing by Sami Aboudi)

((asma.alsharif@thomsonreuters.com)(+96626603848)(Reuters Messaging: asma.alsharif.reuters.com@reuters.net))

Keywords: SAFCO EARNINGS/