Saudi's Yansab says net profit halved due to low prices
RIYADH Oct 13 (Reuters) - Saudi Arabia's Yanbu National Petrochemical Co (Yansab) said on Saturday its third-quarter net profit almost halved from last year thanks to reduced product prices and a unit shutdown.
The producer, an affiliate of Saudi Basic Industries Corp (Sabic), said it earned 436 million riyals ($116) in the three months to Sep 30, compared to 828 million riyals in the prior year period.
Second-quarter net profit was 650 million riyals, the company said in its statement, posted on the website of the Saudi bourse. (Reporting By Angus McDowall)