(MENAFN) Mesaieed Petrochemical Holding Co. posted net profit of USD 58.28mn for the first quarter of this year, an increase of 83 percent.
Furthermore, the increase was attributed to growth sales volumes and other income, which was also helped by recognition of a tax refund of USD 5.48mn.
In addition group's earning per share for the quarter was of USD 0.046, which continued to benefit from the supply of priced ethane and fuel gas.
The closing cash position after the cited quarter reached USD 241.3mn, was a robust USD 118.61mn.
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