Saudi Fertilizers' Q4 net plunges 28pc
Riyadh, January 11, 2009
Saudi Arabian Fertilizers Company (Safco) said its net profit fell 28 per cent in the fourth quarter, below analysts' forecasts.
Safco made SR536 million ($143 million) in the three months to December 31, down from the SR742.95 million it made a year-earlier, the state-controlled firm said in a statement posted on the bourse's website.
Analysts forecast of Safco's fourth quarter earnings ranged from SR729.6 million to SR1.1 billion, according to a survey last month.-Reuters