Saudi International Petrochemicals Company (Sipchem) said third-quarter profit rose 57 per cent to SR137 million ($36.5 million) on higher volume of sales and prices.

'The rise in (third-quarter) profit is due to an improvement in the prices of products and the volume of sales,' the company said in a statement on the Saudi bourse website on Sunday.

The net income in the nine months to September 30 increased to SR502 million, Sipchem said.-Reuters