Saudi Chemical’s profits retreat to $12.4mln in H1-22 initial results


Saudi Chemical Company has reported net profit after Zakat and tax worth SAR 46.50 million during the first half (H1) of 2022, lower by 31.72% than SAR 68.10 million in H1-21.

The company’s revenues inched up by 0.47% year-on-year (YoY) to SAR 1.860 billion in H1-22, compared to SAR 1.869 billion, according to the interim financial results.

Additionally, the earnings per share (EPS) declined to SAR 0.55 in H1-22 from SAR 0.81 in H1-21.

During the second quarter (Q2) of 2022, the Saudi listed firm posted a 49.39% plunge in net profit after Zakat and tax to SAR 13.80 million, versus SAR 27.27 million in Q2-21.

Meanwhile, the revenues increased by 6.31% to SAR 956.68 million in April-June 2022, compared to SAR 899.91 million in the year-ago period.

In the first three months (3M) of 2022, Saudi Chemical’s net profit after Zakat and tax plummeted by 19.88% YoY to SAR 32.71 million from SAR 40.83 million.