Saudi International Petrochemical Company announced earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net profit amounted to SAR 196.8 million compared to SAR 157.7 million for the same quarter last year with an increase of 24.8% and compared to SAR 185.2 million for the previous quarter with an increase of 6.3%. The increase for quarter compared with same quarter last year is due to the increase in some of the company's products prices specially methanol product and accordingly increase in profit margins in addition to decrease in financing costs. Operational profit was up by 38% at SAR 360.7 million.

For the full year of 2013, the company's net profit amounted to SAR 620.5 million compared to SAR 601.2 million for the same period last year with an increase of 3.2%. Operational profit amounted to SAR 1,168.3 million compared to SAR 1,135.9 million for the same period last year with an increase of 2.9%. Earnings per share were SAR 1.69 compared to SAR 1.64 for the same period last year. The increase for period compared with same period last year is due to the slight increase in the profits due to improvements in some of the company's products prices specially methanol product taking in consideration the decrease in production and sales quantities as a result of the shutdown of company plants during first quarter for planned turnaround activities.