Advanced has capacity to complete profitable projects, says CEO

Advanced Petrochemical Company has the financial capacity to complete several profitable projects, which are still under study, said Khalifa al-Mulhim, chief executive officer of the company.

Al-Mulhim told CNBC Arabia that his company’s policy on profit distribution to shareholders won’t change, as the board of directors is responsible for setting the amount it will distribute through a cash dividend.

The polypropylene producer posted a three percent rise in profit to SAR 333 million during the first half of 2015, while second quarter profit reached SAR 243 million.