SAFCO's Profit Down 33% in 1992
The Saudi Arabian Fertilizer Company (SAFCO) in 1992 reported a profit ofSR111.8mn ($29.8mn), down 33% from SR167mn ($44.5mn) in 1991, according to thecompany's results announced last week. SAFCO's board of directors has attributedthe decline in profitability to additional spending on SAFCO's new fertilizerplant at Jubail, which is scheduled to start test production in April. The newplant, which will cost SR1.6bn...
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