Alujain Corporation (Alujain) [2170.SE] has announced its 3Q16 financial results, showing net profit of SAR36.16mn (-20.36% Y-o-Y, -4.24% Q-o-Q). Gross profit came in at SAR103.88mn (-19.9% Y-o-Y, -4.99% Q-o-Q), while operating profit reached SAR85.64mn (-21.88% Y-o-Y, -4.59% Q-o-Q). Revenues for 3Q16 were reported at SAR341.95mn (-17.13% Y-o-Y). The company attributed the Y-o-Y and Q-o-Q decrease in net profit to the slump in polypropylene prices. (Tadawul)
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