Petrochemicals maker Sipchem's shares top fallers despite 37% profits jump

RIYADH: Sahara International Petrochemical Co, or Sipchem, saw its share decline at the opening of Tuesday, despite posting a 37 percent jump in net profit during the first nine months of the year.

The petrochemicals maker shed 0.95 percent at SR41.80 ($11) to lead the fallers as of 10:30 a.m. Saudi time. 

The company’s profit rose to SR3 billion from SR2 billion for the same period a year earlier, it said in a bourse filing.