Saudi Kayan Petrochemical company (kayan) [2350.SE] has announced its 2Q16 financial results showing a net profit of SAR91.02mn compared to a net loss of SAR13.42mn in 2Q15 and a net loss of SAR216.2 mn in 1Q16. Gross profit came in at SAR397 mn (+54% Y-o-Y, +412% Q-o-Q), while operating profit was SAR290.71mn (+93.78% Y-o-Y, -24.3% Q-o-Q). The company attributed the improvement in earnings on a quarterly basis to i) improved sales volumes; ii) higher prices; and iii) an improvement in the company's operational performance. (Tadawul)
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