Saudi Arabian Fertiliser Company (Safco) posted a net profit of SR254.2 million ($67.8 million) for the first nine months of this year, compared to a net profit of SR142.9 million ($38.1 million) for the corresponding period of last year, according to reports.

Safco is 41 per cent owned by Sabic, 10 per cent by Safco employees and 49 per cent by private Saudi shareholders. And exports its products principally to the American market.

Safco's production capacity is 1.2 million tonnes per year of ammonia, urea, sulphuric acid and melamine, and it runs two plants - one in Jubail and the other in Dammam.