Saudi Industrial Investment Group sees 1,135% jump in its 2021 profit

Saudi Industrial Investment Group sees 1,135% jump in its 2021 profit
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Updated 27 January 2022
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Saudi Industrial Investment Group sees 1,135% jump in its 2021 profit

Saudi Industrial Investment Group sees 1,135% jump in its 2021 profit
  • Net profit jumped from SR92 million ($24 million) to SR1.14 billion on an annual basis

RIYADH: The Saudi Industrial Investment Group, or SIIG, has experienced a tremendous increase in net profit by 1,134.8 percent due to a surge in the prices of the project's products.

Net profit jumped from SR92 million ($24 million) to SR1.14 billion on an annual basis, according to a stock exchange filing.

Established in 1996, the Riyadh-based firm is one of the first privately owned petrochemical companies in Saudi Arabia.

Its primary aim is to invest in the petrochemical industry for its shareholders.