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Saudi Safco’s Q3 net profit doubles

Saudi Arabian Fertilizer Co (Safco) has said its third-quarter net profits have doubled after prices for its products rose globally, Reuters has reported. Safco, which produces urea and ammonia, made a net profit of SR1.2bn in the third quarter, compared with SR604m last year. Operational profit for the quarter surged 97% to SR1.1bn, Safco said.