Riyadh – Mubasher: Saudi Chemical Company posted a 179.29% year-on-year (YoY) hike in net profit to SAR 164.17 million during the first half (H1) of 2024, compared to SAR 58.78 million.
The revenues amounted to SAR 3.25 billion in H1-24, marking an annual surge of 45.14% from SAR 2.24 billion, according to the initial financial results.
Earnings per share (EPS) grew to SAR 0.19 as of 30 June 2024 from SAR 0.07 in the year-ago period.
Financials for Q2-24
In the second quarter (Q2) of 2024, the company’s net profits hit SAR 72.71 million, higher by 173.86% YoY than SAR 26.55 million.
Revenues increased by 33.84% to SAR 1.61 billion in Q2-24 from SAR 1.20 billion in Q2-23.
Quarter-on-quarter (QoQ), the net profits in Q2-24 fell by 20.49% from SAR 91.45 million in Q1-24, while the revenues declined by 1.81% from SAR 1.64 billion.
