Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Energy deals top list as Bahrain issues $1.6bn tenders in Q1 2021

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

Dubai’s Shuaa plans SPACs worth $600 million

Shuaa Capital plans to set up three blank-check companies of around $200 million each.

[adinserter block="4"]