Riyadh – Mubasher: Advanced Petrochemical Company has reported a net profit of SAR 171 million in 2023, a 42.03% year-on-year (YoY) drop from SAR 295 million.
The company’s revenues also declined by 19.47% YoY to SAR 2.37 billion last year from SAR 2.94 billion, according to the annual financial results.
The earnings per share (EPS) reached SAR 0.66 in the 12-month period that ended on 31 December 2023, down from SAR 1.14 in 2022.
It is worth mentioning that Advanced Petrochemical posted a 50.83% YoY plunge in net profit during the first nine months (9M) of 2023, recording SAR 148 million, compared to SAR 301 million.
