CHEMICAL Profits Fell to SR7.75 mln during the 3Q by 59%

Saudi Chemical Holding Company net profit after zakat and tax for the decreased to SR7.75 million during the third quarter, compared to SR18.85 million during the same quarter of the previous year, by 58.88%.

This came after Saudi Chemical Co. announced its interim financial results for the period ending on 2021-09-30 (nine months).

The operational profit amounted to SR27.65 million during the third quarter, compared to SR38.55 million during the same quarter of the previous year, a decrease of 28.27%.

The gross profit amounted to SR97.44 million during the third quarter, compared to SR104.92 million riyals during the same quarter of the previous year, a decrease of 7.13%.

The net profit after zakat and tax during the current period amounted to SR75.85 million, compared to SR96.99 million during the same period of the previous year, a decrease of 21.79%.

Profits per share during the current period amounted to 0.9 riyals, compared to 1.15 riyals during the same period of the previous year.

The decrease in net income is mainly due to the decrease in sales, along with the increase in general and admin expenses, credit loss provision, and zakat and tax provision, despite the increase in other revenues.

The decrease in net income is mainly due to the decrease in sales, along with the increase in general and admin expenses, zakat and tax provision, despite the decrease in credit loss provision, finance cost, along with the increase in other revenues.

The decrease in net income is mainly due to the increase in cost of revenues, general and admin expenses, credit loss provision, zakat and tax provision, despite the increase in sales and other revenues.

Certain comparative figures for the previous period have been reclassified to conform to the current period’s presentation.