National Petrochemical Company (Petrochem) [2002.SE] has announced its 3Q16 financial results, showing net profit of SAR191.2mn (-40.45% Y-o-Y, -8.34% Q-o-Q). Gross profit came in at SAR558.4mn (-26.31% Y-o-Y, -2.63% Q-o-Q) and operating profit reached SAR406.2mn (-31.37% Y-o-Y, -3.7% Q-o-Q). Revenues for 3Q16 reached SAR1,601mn (-16.3% Y-o-Y). The company attributed the Y-o-Y decrease in profits to the following: i) Decrease in product prices; ii) Increase in finance charges; and iii) Increase in general and administrative expenses. (Tadawul)