Middle-east Arab News Opinion | Asharq Al-awsat

SAFCO Nets SR 1.15 Billion Profits in 2006 | ASHARQ AL-AWSAT English Archive 2005 -2017
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Riyadh, Asharq Al-Awsat- According to preliminary results, SABIC affiliate, the Saudi Arabian Fertilizer Company (SAFCO) reported its highest ever profits during 2006, amounting to SR 1.15 billion compared to SR 1.11 billion in 2005.

Mohamad Al-Mady, SAFCO Chairman and Managing Director said, “These are the highest profits achieved by the company since its inception, exceeding the index recorded last year by 5% and has resulted in an increase in profit per share to reach SR 5.8 compared with SR 5.5 last year.”

Al-Mady indicated that SAFCO’s operating profits at the end of 2006 were SR 988 million compared to SR 982 million in 2005, an increase of 0.6%. He outlined that the profits of the 4Q2006 amounted to SR 314 million compared to SR 281.4 million in the same period of 2005, an increase of 11.6% due to increased sales volume by 29%.