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Sahara Petrochemicals sees Q2 profits plummet 74%

Saudi-based Sahara Petrochemicals Co has said its net profit for the second quarter of this year fell 74% to SR54.32m from SR209m for the same period in the previous year, Arab News has reported. Gross profit for the quarter also dropped 96% to SR6.05m, compared with SR161m for the same period in the previous year. Net profit for the six month stood at SR96.25m, down 68% from the SR309m recorded in the same period in the previous year.