Sahara Petrochemical Company announces its audited consolidated financial results for the year ended December 31, 2007. Declares Sahara Petrochemical Company on the audited consolidated financial results for the year ended December 31, 2007 for achieving net loss of $ 5.1 million compared with a profit of $ SR 164.8 million riyals for the same period last year, while the loss arrow 0.03 riyals for the fiscal year 2007 compared to 0.88 rials for the year in 2006.
It is noteworthy cause losses during in 2007 due to the absence of a source of operating income so far, and the consumption of liquidity available in the existing projects which are still under construction, as approved schedules.
It is worth mentioning that there is no operating profits so far with the company since its projects are still under construction.
SAHARA Petrochemicals Company
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