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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Sahara Q1 net profit $125m

In Q3 2023, the petrochemical producer posted a 70% drop in its net profit to SAR 233.1 million from SAR 774.41 million in Q3 2022. (Sipchem)
  • The company said in a Tadawul disclosure that its revenue of 2 billion riyals in Q1 was 11.11 percent less than 2.3 billion in the first quarter of 2022.
  • Earnings per share was 0.65 riyal during the first three months of 2023, lower than 1.48 in Q1 2022.

Dubai, UAE – Saudi Arabian Sahara International Petrochemical Company has posted a net profit of 470 million riyals ($125.46 million) for the first quarter of 2023, down more than 56 percent from a year ago and 1.8% from 479 million riyals in the previous quarter.

The company said in a Tadawul disclosure that its revenue of 2 billion riyals in Q1 was 11.11 percent less than 2.3 billion in the first quarter of 2022 but 6.7 percent higher than the previous quarter.

The drop in the net profit was attributed to a decrease in selling prices of company’s products in spite of increase in sales and decrease in prices of some feedstock. A fall in company’s share of profit from joint venture and associates also led to the decrease in net profit.

Total share holders’ equity for the current period was 16.25 billion riyals, which is 3.75 percent higher than the first quarter of 2022.

Earnings per share was 0.65 riyal during the first three months of 2023, lower than 1.48 in Q1 2022.