403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Saudi- Low sales, high costs put Tasnee in loss
(MENAFN- Khaleej Times) Saudi Arabia's National Industrialisation, or Tasnee, on Monday said it swung to a net loss for the second quarter, which the petrochemical producer blamed on lower product sales prices and higher costs as it missed analyst forecasts.
Tasnee made a net loss of SR107.7 million ($28.7 million) in the three months to June 30, according to a bourse filing. This compares with a profit of SR408.3 million in the same period a year ago.
Analysts polled by Reuters had on average forecast Tasnee would make a quarterly profit of SR96.5 million.
Tasnee made a net loss of SR107.7 million ($28.7 million) in the three months to June 30, according to a bourse filing. This compares with a profit of SR408.3 million in the same period a year ago.
Analysts polled by Reuters had on average forecast Tasnee would make a quarterly profit of SR96.5 million.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment