Sahara Petrochemicals' Q2 net profit down 74%

Sahara Petrochemicals Company's net profit for Q2, 2012 was SR 54.32 million, compared with SR 209 million for the same period in the previous year with a decrease of 74 percent and compared with SR 42 million for the previous quarter with an increase of 29 percent, according to Tadawul website.
Announcing its preliminary financial results for the six-month period ended June 30, 2012, the company said its gross profit for the second quarter amounted to SR 6.05 million compared with SR 161 million for the same period in the previous year with a decrease of 96 percent.
Operational loss during the second quarter reached SR 13.23 million compared with a profit of SR 135 million for the same period in the previous year.
Net profit for the six month reached SR 96.25 million compared with SR 309 million for the same period in the previous year with a decrease of 68 percent.
Earnings per share for the six months of 2012 reached SR 0.22 compared with SR 1.06 for the same period in the previous year.
Goss operational loss for the first six months of 2012 reached SR 31.38 million compared with a profit of SR 161 million for the same period in the previous year.
Operational loss for the first six month of 2012 reached SR 70.95 million compared with a profit of SR 131 million for the same period in the previous year.