Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Uncategorized

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Yanbu NPC loss $129m

The company had posted a net profit of #110m in 2022.
By TRENDS Desk
February 19, 2024 9:59 pm
  • Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent.
  • In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period.

Dubai, UAE — Yanbu National Petrochemical Company has posted a loss of SAR486 million ($129 million) for 2023, compared to net profit of SAR 414 million in 2022.

In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period, in addition lower production and sales despite lowering of some production input costs.

The fall in production and sales was attributed to the scheduled turnaround of the company’s complex for preventive maintenance during first quarter and the temporary shutdown of company plants during the third quarter to for emergency repairs.

Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent, due to lower average sales prices and volume, and production.

[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…

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…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]