Bloomberg News

Saudi Chemical Slumps Most in 2 Months After Quarterly Net Drops

October 12, 2011

Oct. 12 (Bloomberg) -- Saudi Chemical Co. fell the most in almost two months after the trader and manufacturer of pharmaceutical products said quarterly profit declined 14 percent as costs rose.

The shares slumped 6.1 percent, the most since Aug. 9, to 38.2 riyals at 11:46 a.m. in Riyadh.

Third-quarter profit decreased to 46.7 million riyals ($12.5 million) from 54.2 million riyals the year earlier.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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