Sunday, Oct 09, 2011
DUBAI (Zawya Dow Jones)--Saudi Arabian Fertilizer Co., or Safco, an affiliate of petrochemical giant Saudi Basic Industries Corp. (2010.SA), said Sunday its third-quarter net profit doubled to 1.21 billion Saudi Arabian riyals ($323 million) from SAR604 million in the year-earlier period.
Safco's third-quarter net profit easily beat most analyst estimates. Credit Suisse had penciled in a profit of SAR1.05 billion, while NCB Capital had estimated SAR912.4 million and EFG-Hermes SAR1.15 billion.
The fertilizer company said earnings per share for the first nine months stood at SAR11.33 against an EPS of SAR8.84 for the same period in 2010.
-By Brinda Darasha, Dow Jones Newswires; +9714 446-1688; Brinda.Darasha@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
09-10-11 0843GMT
