Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) posted an annual jump of 125.9% in net profits after Zakat and tax to SAR 1.53 billion in 2021, compared to SAR 677.6 million.
Earnings per share increased to SAR 2.72 last year from SAR 1.2 in 2020, according to the initial financial results on Wednesday.
Revenues grew by 47% year-on-year (YoY) to SAR 7.40 billion in 2021 from SAR 5.03 billion.
As for the fourth quarter (Q4) of 2021, the company registered net profits after Zakat and tax of SAR 335 million, up 0.69% YoY from SAR 332.7 million.
Revenues soared by 39% to SAR 1.92 billion in Q4-21 from SAR 1.37 billion in Q4-20.
Quarter-on-Quarter, Yansab’s net profits in Q4-21 were 86% higher than SAR 179.8 million in Q3-21, and the revenues went up by 8% from SAR 1.77 billion.
The listed firm attributed the rise in net profits during Q4-21 and the full year 2021 to higher average sales prices of all products.
