Riyadh – Mubasher: Advanced Petrochemical Company witnessed 50.83% lower net profits after Zakat and tax at SAR 148 million during the first nine months (9M) of 2023, versus SAR 301 million in 9M-22.
The earnings per share (EPS) amounted to SAR 0.57 in 9M-23, an annual drop from SAR 1.16, according to the initial financials.
Revenues reached SAR 1.80 billion during the January-September 2023 period, down 22.85% year-on-year (YoY) from SAR 2.33 billion.
Income Statements for Q3-23
In the third quarter (Q3) of 2023, the net profits after Zakat and tax widened by 66.67% to SAR 45 million from SAR 27 million in Q3-22.
The listed firm registered a 9.59% YoY decrease in revenue to SAR 594 million during the three-month period that ended on 30 September 2023, compared to SAR 657 million.
On a quarterly basis, the Q3-23 net profits retreated by 25% from the SAR 60 million generated in Q2-23, while the revenues rose by 2.06% from SAR 582 million.
