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Safco reports 10% decline in Q4 net profit
- Saudi Arabia: Sunday, January 13 - 2013 at 03:02
Saudi Arabian Fertilisers Co (Safco) has reported a 10.3% decline in fourth-quarter net profit, missing analyst forecasts, Reuters has reported. Safco, the affiliate of Sabic, made SR1.146bn in the three months ending on December 31, compared with SR1.277bn in the same period a year earlier, it said. "The decrease in the fourth quarter, 2012 compared to the same quarter last year is due to lower urea prices," Safco said.
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