Nama Chemicals records losses during Q3, amounting to SR5.3 mln

Nama Chemicals Company recorded a net loss after zakat and tax in the third quarter of SR5.3 million, compared to a profit of SR4.8 million in the same quarter of last year.
This came after the announcement on Sunday of the preliminary financial results for the period ending on September 30, 2022 (nine months).
The operational loss amounted to SR1.6 million in the third quarter, compared to a profit of SR5.1 million in the same quarter of the previous year.
The net profit after zakat and tax in the 9-month period amounted to SR54.7 million, compared to SR24.4 million in the same period last year, a growth of 124.2%.
The gross shareholders’ equity “without minority rights” amounted to SR387.4 million in the current period, compared to SR322.8 million in the same period last year, an increase of 20%.
Profits per share in the current period reached SR2.33, compared to SR1.04 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 Net Loss in the current quarter is mainly due to the following:
• Decrease in average profit margin for finished products
• Increase in general and administrative expenses
• Increase in finance cost
• Reduction in other income
Even though there was:
• Increase in sold quantities.
The reason for the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is:
The Net Loss in the current quarter is mainly due to the following:
• Decrease in average profit margin for finished products
• Decrease in sold quantities.
Even though there was:
• Decrease in general and administrative expenses
The reason for the increase (decrease) in the net profit during the current period compared to the same period of the last year is:
The reason for Net Profit is mainly due to the following:
• Increase in average profit margin for most of the finished products.
Even though there was:
• Increase in general and administrative expenses.
• Increase in finance cost
• Reduction in other income
Certain comparative information has been reclassified in order to conform to the presentation adopted in the current period.