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SAFCO Announces 474 Million Saudi Riyals Profit in First Half of 2005 - ASHARQ AL-AWSAT English Archive
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Riyadh- Saudi Arabian Fertilizers Co. (SAFCO) reported net profits of SR (474.2) million during the first half of 2005, compared with SR (200.9) million in the same period in 2004.

Profits for the second quarter of 2005 were SR (237.8) million compared with SR (84) million in the same period last year.

SABIC Vice Chairman and Chief Executive Officer , SAFCO Chairman and Managing Director, Mohamed Al-Mady said, &#34Profits of the first half of the current year rose by 136% over the profits realized in the same period last year due to a high rise in prices across most products. Revenue on one ton of ammonia rose by 14%, urea 42% and an increase in sales volume by 15%. I expect that product prices will stabilize during the ongoing rise of gas prices.&#34

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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