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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.

Sipchem posts jump in profit

Sipchem attributed the results to increased selling prices of most of the company’s products, increased sales volume, and decreased finance expenses. (RP)
By TRENDS Desk
October 19, 2022 11:03 am
  • The company said in a bourse filing that it had recorded a profit of $533 million for the same period a year earlier
  • Yet the petrochemical maker's stock declined 1.42 percent to touch $11 at the close of Tuesday

Riyadh, Saudi Arabia—Sahara International Petrochemical Co., or Sipchem, has posted a 37 percent increase in net profit to $800 million in the first nine months of the year.

The company had recorded a profit of $533 million for the same period a year earlier, it said in a bourse filing.

Yet the petrochemical maker’s stock declined 1.42 percent to touch $11 at the close of Tuesday.

Sipchem attributed the results to increased selling prices of most of the company’s products, increased sales volume, and decreased finance expenses.

Its revenues grew by 24 percent during the first nine months of 2022 to reach $2.26 billion.

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