Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) turned to net profits valued at SAR 420.30 million in 2024, against net losses of SAR 485.10 million in 2023.
Revenues hiked by 35.91% year-on-year (YoY) to SAR 6.16 billion in 2024 from SAR 4.53 billion, according to the annual financial results.
The registered net profit is attributable mainly to higher production and sales quantity and higher average sales prices for most of the products. This is despite the increase in the cost of some production inputs compared to similar period last year.
Earnings per share (EPS) hit SAR 0.75 last year, versus a loss per share of SAR 0.86 a year earlier.
As of 30 September 2024, Yansab recorded net profits worth SAR 454.90 million, compared to net losses worth SAR 503.60 million in the year-ago period.
