AlwaysFree: Saudi Arabia’s Advanced Petrochemical Company Reports Q3 Results

Saudi Arabia’s Advanced Petrochemical Company reported that its net profit after Zakat and tax jumped nearly 40% year-on-year to SAR218 million ($58.05 million) in the third quarter of 2021, mainly attributed to the 47% increase in polypropylene (PP) sales prices. Its quarterly sales came in at SAR805 million ($214.37 million), a rise of 47% from a year earlier. For the first nine months of 2021, Advanced Petrochemical Company posted a net profit after Zakat and tax of SAR654 million ($174.16 million), up 57% from a year earlier, thanks to a 51% year-on-year increase in polypropylene (PP) sales price for the period. Its sales stood at SAR2.2 billion ($585.85 million) in January-September 2021, an increase of 38% from a year earlier.