Saudi Fertilizers Q2 net profit rises 89%
Posted by EnergyDigger.com
Sunday, 11 July 2010 01:25:18 CDT
AME - Saudi Arabia

Saudi Arabia: Saudi Arabian Fertilizers Co has said its second quarter net profit rose 89% due to the sale of land, while growth in operating margins narrowed from the first quarter, Reuters has reported. Safco, which produces urea and ammonia, made a net profit of SR907m in the three months to end-June, compared to SR480m in the same period a year-earlier. "The increase in second-quarter... stemmed from the increase in global prices and the revenue realised from the sale of land," Safco said in a statement.

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