Sadara Chemical Company, the parent company of Sadara Basic Services Co., saw its net losses (after zakat and tax) more than double in the first half of 2019 to SAR 2.4 million, due to lower sales of performance chemicals.
|
Income statement |
|||
|
Period |
H1 2018 |
H1 2019 |
Change (%) |
|
Revenue (SAR mln) |
7470.9 |
5211.7 |
(30%) |
|
Net loss (SAR mln) |
(1156.4) |
(2392.0) |
(107%) |
|
Number of shares (mln) |
3563 |
3563 |
-- |
|
Earnings per share (SAR/share) |
(0.32) |
(0.67) |
(107%) |
The firm’s losses in Q2 widened by 76 percent year-on-year to SAR 1.14 million on lower sales of performance chemicals.
When compared to the previous quarter, net losses shrank by 9.3 percent in Q2, attributed to the company’s cost-optimization initiatives, as well as higher sales of performance plastics.
|
Sadara Chemical net income since 2017 |
||
|
Period |
Net income (SAR mln) |
Earnings per share (SAR) |
|
2019 |
||
|
Q2 |
(1137.7) |
(0.32) |
|
Q1 |
(1254.3) |
(0.35) |
|
2018 |
||
|
Q4 |
(1506.0) |
(0.43) |
|
Q3 |
(1197.7) |
(0.34) |
|
Q2 |
(646.3) |
(0.18) |
|
Q1 |
(510.1) |
(0.14) |
|
2017 |
||
|
Q4 |
(547.0) |
(0.18) |
|
Q3 |
(1339.4) |
(0.45) |
|
Q2 |
( 1589.2) |
(0.53) |
|
Q1 |
(1397.9) |
(0.47) |
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