Built to inform

Sign up for the daily newsletters

No, Thank you

Net profits plummet 134% at Saudi Kayan Petrochemical Co in H1'19

Al Jubail-based and Tadawul-listed chemicals giant reported a 20% dip in cash revenues during first six months of 2019

Saudi Kayan has noted a profit drop in H1 2019.
Saudi Kayan has noted a profit drop in H1 2019.

Net profit after zakat and tax at Saudi Kayan Petrochemical Company (Saudi Kayan) declined by 134% during the first half of 2019 compared to H1 2018, the Al Jubail-based chemical firm’s latest financial statement has revealed.

According to the group’s H1 2019 financial results filed on Saudi bourse, Tadawul, losses for the six-month period ending 30 June, 2019, stood at $125.5m (SAR470.6m) – a significant fall on H1 2018, when the group reported $357.3m (SAR1.34bn) in net profits after zakat and tax.

Revenue for the period fared a little better, with the chemicals giant bringing in $1.3bn (SAR5bn) in cash between January and June 2019 – a 20% fall on the same period last year.

In its bourse missive, the group cited the H1 2019 performance to a reduction in both the average selling price and sales quantities of its products.

Most popular


New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony


Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 747
Aug 03, 2019