Sadara Chemical narrows Q2 loss by 22.3% to SAR 1.07 bln

 Sadara Basic Services Co. announced that its parent company, Sadara Chemical Co., reduced its net loss by 22.3% to SAR 1.07 billion in the second quarter of 2024, down from SAR 1.39 billion in the same period last year, according to preliminary financial results released on Thursday.

The company’s operating loss also decreased by 42.7% to SAR 399.6 million, compared to SAR 697.9 million in Q2 2023. Total equity, after excluding non-controlling interests, stood at SAR 78.5 million for the first six months of 2024, compared to a loss of SAR 3.30 billion in the same period last year.

The loss per share for the current period was SAR 0.56, down from SAR 0.73 in the corresponding period last year.