Advanced Petrochemical: Saudi Advanced Petrochemical's shares down following 54% drop in profits

Wed, 2022-10-26 09:50 RIYADH: Saudi Arabia's Advanced Petrochemical Co. saw its profit decline by 54 percent during the first nine months of 2022, hit by higher raw material prices. The Jubail-based company's profit dropped to SR301 million ($80 million), compared to SR654 million for the same period a year earlier, according to a bourse filing. Following the announcement, Advanced Petrochemical's shares declined 2.14 percent to reach SR43.40 as of 10:06 a.m. Saudi time.Main category: Business & Economy