Chemanol Profit Rose to SR92 mln during Q2, up 53%

Methanol Chemicals Company revealed an increase in net profit after zakat and tax in the second quarter to SR92.16 million, compared to 60.17 million riyals in the same quarter of last year, at a rate of 53.17%.
This came after the announcement on Thursday of the preliminary financial results for the period ending on 30.06.2022 (six months).
The operational profit amounted to SR102.6 million in the second quarter, compared to SR71.3 million in the same quarter of the previous year, an increase of 43.8%.
The net profit after zakat and tax in the six-month period amounted to SR194.8 million, compared to SR90 million in the same period last year, a growth of 116.3%.
The gross shareholders’ equity “without minority rights” amounted to SR1.21 billion in the current period, compared to SR868.5 million in the same period last year, an increase of 39.7%.
Profits per share in the current period reached SR2.89, compared to SR1.33 in the same period last year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:
The reason of the increase in the net profit of the Company during the current quarter compared to the same quarter of the last year is primarily due to an increase in the average selling prices and geographical expansion of company’s sales.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is:
The reason of the decrease in the net profit of the Company during the current quarter compared to the previous quarter is primarily due to the increase in raw materials and supply chain cost.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is:
The reason of the increase in the net profit of the Company during the current period compared to the same period of the last year is primarily due to an increase in the average selling prices and geographical expansion of company’s sales.
Certain prior period figures have been reclassified to conform to current period’s presentation.
Profits per share for the period ended June 30, 2021, has been calculated retroactively as a result of a change in the number of shares after reducing the Company’s capital in accordance with the Extraordinary General Assembly resolution dated 28/06/2021, and accordingly the number of the Company’s shares has been reduced from 120,600,000 to 67,450,863 shares.