By: Thabet Shehata
Riyadh-Mubasher: Polypropylene prices are expected to rise during the upcoming period, which will have a positive impact on the company’s financial results for 2016, Advanced Petrochemical’s chairman Khalifa Al Mulhem told Mubasher.
The company’s net profit advanced 27.79% in the second quarter of 2016 compared to the first quarter of the same year, but retreated 23.5% from Q2-15.
Mulhem added that the decrease in net profit is attributable to a decline in polypropylene market prices and low feedstock prices
The petrochemical company’s net profit in the first half of 2016 was marginally down 0.23% to SAR 332 million from SAR 332.77 million in the same half of 2015.
Translated by: Sara Ghali
