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29-Oct-2018

SIIG reports 3Q18 net profit of SAR319mn

SIIG released its 3Q18 financial results, showing net profit of SAR319mn (+41% Y-o-Y, flat Q-o-Q). Operating profit came in at SAR755mn (+38% Y-o-Y, +1.34% Q-o-Q), while gross profit was SAR742mn (+34.4% Y-o-Y, +2.77% Q-o-Q). The company reported sales of SAR2,297mn (+30.8% Y-o-Y, +2.6% Q-o-Q). Based on the release, the slight improvement in operational numbers came on the back of the increase in the company’s share of profit from Petrochem to SAR157mn (SAR136mn in 2Q18). The company also noted that there was a decrease in SIIG’s share of profit from SCP and JCP due to the increase in feedstock costs. 

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