RIYADH: Saudi Kayan Petrochemical Co. has seen its 2021 earnings turn into profits of SR2.39 billion ($640 million), buoyed by higher selling prices and sector-wide growth.

As the economic situation improved globally, the homegrown firm managed to erase losses of SR785 million from a year earlier, according to a bourse filing.

Revenues soared over 58 percent in 2021, and earnings per share amounted to SR1.6, against a loss per share of SR0.52 a year ago.