Saudi Arabia's Advanced Petrochemical profits plunge 94.44% in Q3 2026 due to lower revenues

The financial results of Advanced Petrochemical Company for the third quarter of 2026 revealed a 94.44% decline in net profit, compared to the company's profits in the corresponding quarter of 2025, amid lower revenues.

According to the company's data on the Saudi Exchange (Tadawul) website today, Sunday, the company's profits fell to SAR 4 million in the third quarter of the current year, compared to profits of SAR 72 million for the same period last year.

The company explained that the drop in net profit was due to lower revenues, driven by a decrease in sales volumes as a result of logistical challenges arising from prevailing geopolitical conditions.

The company's results for Q3 2026 also showed operating profit falling to SAR 123 million, compared to operating profits of SAR 182 million in Q3 2025, representing a decrease of 32.42%.

US stocks rose during Friday's trading, supported by the technology sector, as investors sought to recover from a volatile week that saw rising Treasury yields and oil prices, alongside a decline in artificial intelligence-related stocks.

Oil prices rose during Friday's trading, despite easing concerns over Middle East supply, after US President Donald Trump announced that the United States would not attack Iran before next month's scheduled midterm elections, and spoke of holding "productive" talks to end the war between the two countries, which has caused disruptions in global energy markets.