Wednesday, Jan 18, 2012
(This story was originally published Tuesday)
RIYADH (Zawya Dow Jones)--Saudi-based petrochemical firm National Industrialization Co. (2060.SA), better known as Tasnee, reported a fourth-quarter net profit of 544 million Saudi riyals ($144 million) Tuesday, up 43% from the SAR381.4 million a year ago, due to improved prices and increased sales from its subsidiaries.
Earnings per share for full year 2011 came in at SAR4.38, compared to SAR2.64 in 2010, the company said in a statement posted on the website of the Saudi stock exchange. The firm completed a bonus-share issue in April.
Net profit for 2011 came to SAR2.4 billion, up 66% from 2010, and operating profit rose 74% to SAR5.5 billion, the company said.
Tasnee shares closed down 1.49% Monday at 39.70.
-By Ellen Knickmeyer, Dow Jones Newswires, +971 55 1093359, ellen.knickmeyer@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
18-01-12 0315GMT
