Al-Mutakaddima's Q3 profit drops 94.44%

Advanced Petrochemical Company's profits declined by 94.44% in the third quarter of 2026, reaching approximately 4 million riyals compared to 72 million riyals in the same period last year. This was due to a 4% decrease in revenues and a 20% drop in sales volumes, caused by logistical challenges stemming from the geopolitical situation. Despite a 12% increase in production and an 8% rise in propane prices, revenues fell from 1.02 billion riyals to 974 million riyals. For the first nine months, the company recorded losses of 65 million riyals, compared to a profit of 225 million riyals in the same period last year, with a 23.6% increase in sales to partially offset the decline.

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