Sadara Chemical net loss widens in 9M 2017

Sadara Basic Services Co. said its parent, Sadara Chemical Co., reported a net loss to SAR 4.3 billion in the first nine months of 2017, compared to a net loss of SAR 4.2 billion a year earlier, due to startup and ramping-up costs of the integrated facilities.

The company’s net loss narrowed slightly YoY in the third quarter to SAR 1.33 billion from SAR 1.38 billion on the commissioning of all production facilities, which led to an increase in revenues.

Q3 net loss shrank 16 percent compared to the previous quarter.