Rabigh Refining & Petrochemical Company Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
For the full year, the gross profit during twelve months is SAR 1,529.2 million against SAR 984.2 million for the same period of the previous year with an increase of 55.4%. The operational profit during twelve months is SAR 654.0 million against SAR 102.8 million for the same period of the previous year with an increase of 536.2%. The reason for the increase in net profit for the year against last year is due to improved gross profit as a result of higher operation capacity in 2012 compared to 2011 when plants shutdown was experienced due to periodical Test and Inspection. Higher profit was made in 2012, despite of the deteriorated gross margin on hydrocarbon products compared to 2011.