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Petro Rabigh posted a 4.4% year-on-year decrease in Q4 2011

January 19/2012

(ICIS) -- Petro Rabigh has posted a 4.4% year-on-year decrease in its fourth-quarter 2011 net profit to Saudi riyals (SR) 50.3m (USD13.4m) on the back of lower refining margins, the producer said late on Wednesday.

Petro Rabigh posted a 4.4% year-on-year decrease in Q4 2011
Petro Rabighs operational profit in the fourth quarter fell by 20% year on year to SR53.7m, the company said in a statement to the Saudi Stock Exchange.


For the whole of 2011, the companys net profit fell by 68.4% year on year to SR65.9m, largely because of a higher non-operational income gain of SR660m in the full year of 2010, it said.
Petro Rabigh posted an operational profit of SR102.8m in 2011, versus a loss of SR112.8m in the same period a year earlier, the company said.


mrcplast.com

Author:Marina Ivanova
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Category:General News
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