Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has recorded net profits after Zakat and tax worth SAR 283 million during the first quarter (Q1) of 2022, down 32.66% from SAR 420.30 million in Q1-21.

During the January-March period in 2022, the revenues soared by 14.39% to SAR 1.97 billion, compared to SAR 1.72 billion in the year-ago period, according to the interim financials for the period ended on 31 March 2022.

Moreover, the earnings per share (EPS) stood at SAR 0.5 in the first three months of 2022, lower than SAR 0.75 during the same period a year earlier.

On a quarterly basis, the company’s revenues in Q1-22 increased by 2.54% from SAR 1.92 billion in Q4-21, while the net profits declined by 15.52% from SAR 335 million.

In 2021, Yansab logged net profits after Zakat and tax worth SAR 1.53 billion, a 125.90% year-on-year (YoY) leap from SAR 677.60 million.