SAFCO reports 30% drop in quarterly income

January 16, 2014 7:23 am

Saudi Arabian Fertiliser Co (SAFCO), a unit of Saudi Basic Industries Corp (Sabic), has said its fourth-quarter net profit fell 30% due to falling prices worldwide for its main products, Reuters has reported. The company said it made a quarterly net profit of SR802m ($214m), compared with SR1.146bn in the same period last year.