Advanced Petrochemical back in the black in 1Q

AdvancedPetrochemical swung back into the black with a net income of SAR 72 mn in 1Q 2025, compared to a net loss of SAR 58 mn in the same quarter last year, it said in a disclosure to Tadawul. The company recorded no losses from its investment in South Korean petrochemical company SK Advanced during the quarter, thanks to an earlier impairment provision, whereas it logged a SAR 34 mn loss on the investment in 1Q 2024.

MEANWHILE- Revenues were up 91.3% at SAR 614 mn in 1Q 2025, driven by an 88% increase in sales volume.

On a quarterly basis: The company narrowed its net losses from SAR 288 mn in 4Q 2024, while revenues grew 6%, up from SAR 579 mn in the previous quarter.