Sipchem profits up 200 per cent

19 October 2010

Profit increase attributed to rise in production

Saudi International Petrochemical Co (Sipchem) has reported a 200% rise in net profit for the first nine months of 2010 to SR253m, from SR84.3m a year ago, Saudi Gazette has reported. The increase was mainly attributed due to the rise in production and sales quantities of Methanol and Butanediol plants in addition to the improvement of the price of the Butanediol, Sipchem said. Net profit for the third quarter grew 54% to SR84m from SR54.7m recorded a year earlier.

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