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RIYADH - Saudi International Petrochemicals Co (Sipchem) said third-quarter profit fell 60 percent, blaming lower petrochemical sales due to maintenance work at plants.
Sipchem made 54.7 million riyals ($14.59 million) in the three months to Sept. 30, down from 137 million riyals a year earlier, the company said in a statement on the bourse website on Monday.
"[The] 25-day halt at the firm's plants during the third quarter for scheduled maintenance ... naturally resulted in a decline of sales volumes," it said.
(Reporting by Asma Alsharif, Editing by Firouz Sedarat)
($1=3.750 Saudi riyals)
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