Saudi International Petrochemical Company Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
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.