Home Industry Finance Saudi’s Yansab Q4 Net Profit Rises 39.7%, Beats Forecasts The firm made a net profit of SAR617.8 million ($164.6 million) in the fourth quarter of 2014. by Reuters January 13, 2015 Saudi Arabia’s Yanbu National Petrochemical Co (Yansab) reported a 39.7 per cent rise in fourth-quarter net profit on Tuesday, beating analysts’ forecasts as productivity and sales increased from a year earlier. The firm, a subsidiary of Saudi Basic Industries Corp (SABIC), made a net profit of SAR617.8 million ($164.6 million) in the three months to Dec. 31, up from SAR442.2 million in the same period of 2013, a statement to the Saudi bourse said. Analysts polled by Reuters on average forecast Yansab would make a quarterly profit of SAR558.3 million. The company said the profit rise was due higher production and sales compared to a year earlier when there was a temporary plant shutdown. Yansab’s 2014 net profit was SAR2.48 billion, down from SAR2.64 billion in 2013, a drop it attributed to lower sales prices for some products as well as higher costs 0 Comments