Sadara Chemical trims losses by 11% in 2017 on higher revenue

Sadara Basic Services Co. said its parent, Sadara Chemical Co., narrowed losses by 11.44 percent year-on-year (YoY) to SAR 4.9 billion in fiscal year 2017, as the company completed the commissioning of all its production facilities.

Last year, most of the company's plants were under testing phase.

The company lowered its gross losses by 20.01 percent YoY to SAR 1.03 billion and trimmed operating losses by 37.67 percent YoY to SAR 2.82 billion in the same year.