RIYADH: Saudi Kayan Petrochemical Co. has cut its financial costs after paying SR1.68 billion ($450 million) as an early loan settlement.
The petrochemical firm said in a bourse filing that the transaction will reduce financial costs by nearly SR72 million.
Saudi-listed Kayan had seen its net profit plunge by 57.5 percent to SR209 million in the first quarter of 2022, weighed down by higher average sales prices.
