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