The aggregate net profit of Tadawul -listed petrochemical firms reached SAR 4.881 billion in the first quarter of 2019, missing estimates by 23 percent, data compiled by Argaam showed.
SABIC reported a net profit of SAR 3.41 billion in Q1, missing the estimates of SAR 4.26 billion by 20 percent.
All companies reported net profit below projections for Q1 except for SAFCO which has beaten analysts’ expectations by 15 percent.
Meanwhile, Kayan’s results missed the estimates, as it posted a net loss of SAR 198 million, compared to an expected net profit of SAR 208 million.
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