Jul 11 2011 |
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Saudi's Advanced Petrochemicals Doubles 2Q Net Profit On Year
Monday, Jul 11, 2011
DUBAI (Zawya Dow Jones)--Saudi Arabia's Advanced Petrochemical Co. (2330.SA) said Monday its net profit for the second quarter was 156 million Saudi riyals ($41.6 million), more than double the SAR65.3 million it recorded in the same period last year and ahead of most analyst forecasts.
The producer said the figure was 19% higher than the SAR131 million it recorded in the first quarter, and attributed the increase to improved sales prices and volumes in a statement it posted on the website of the Saudi borse.
It said earnings per share in the first half of 2011 were SAR2.03, compared to SAR0.83 a year earlier.
Advanced Petrochemicals shares closed Sunday down 1.2% at SAR33.80.
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
11-07-11 0639GMT
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