Alujain Corporation (Alujain) [2170.SE] announced its 2Q16 financial results, showing net profit of SAR37.76mn (-24.75% Y-o-Y) over 17x 1Q16 figures. Gross profit came in at SAR109.34mn (-20.04 Y-o-Y, +130.4% Q-o-Q), while operating profit was SAR89.76mn  (-23.41% Y-o-Y, 205% Q-o-Q). Management attributed the Y-o-Y decrease in net profit to a decline in prices of polypropylene, which outweighed the increase in sales volume and lower price of raw material. The company also reported better Q-o-Q results due to the relative increase in petrochemical prices, in addition to an increase in the company’s sales volume. (Tadawul)