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Sahara Petrochemical posts 20.3% drop in Q1 net profit

: Saturday, April 19 - 2014 @ 02:18

Saudi Arabia’s Sahara Petrochemical, currently in talks with Sipchem over a possible merger, has reported a 20.3% fall in first-quarter net profit, Reuters has reported. The firm made a profit of SR99.9m in the opening three months of 2014, compared with SR125.4m in the same period last year. Sahara said the decline was due to lower sales, citing a planned shutdown of Al-Waha plant, as well as lower income from associates.

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Saturday, April 19- 2014 @ 2:18 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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