Yansab's Q2 net profit misses estimate: Alistithmar Capital

Yanbu National Petrochemical Co. (Yansab) second-quarter net profit (SAR 227.4 million) fell below Alistithmar Capital’s forecast, the brokerage firm said in a report.

Lower earnings were attributed to higher fixed costs associated with scheduled maintenance at one of Yansab's plants. During the period, the facility saw its longest shutdown since its launch.

The plant's production capacity is expected to reach its maximum limit for at least 18 months as the Saudi petrochemical producer looks to offset the impact of price volatility.

The investment arm of Saudi Investment Bank reaffirmed a "neutral" on the stock and set its target price at SAR 50.