Petro Rabigh reports net profit of SAR243mn in 3Q18
Petro Rabigh has released its 3Q18 financial results, showing net profit of SAR243mn (-65.5% Y-o-Y, +3.4% Q-o-Q). The company’s operating profit came in at SAR353mn (-57% Y-o-Y, +6% Q-o-Q), while gross profit recorded SAR306mn (-61.4% Y-o-Y, +1% Q-o-Q). Reported sales were at SAR12,041mn, representing a 32% Y-o-Y increase (+12% Q-o-Q). The company attributed the improvement in Q-o-Q results to higher sales volumes on petrochemical and refined products.
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