Saudi Chemical Co. reported a net profit of SAR 91.5 million in Q1 2024, an increase of more than two-fold, from SAR 32.3 million in the year-earlier period, due to higher operating profit on increased sales volumes, revaluation gains on derivative financial instruments related to interest rate exposure.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 1,039.32 | 1,644.96 | 58.3 % |
| Gross Income | 152.22 | 213.63 | 40.3 % |
| Operating Income | 69.91 | 119.26 | 70.6 % |
| Net Income | 32.27 | 91.45 | 183.4 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.04 | 0.11 | 183.4 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 1,408.86 | 1,644.96 | 16.8 % |
| Gross Income | 211.93 | 213.63 | 0.8 % |
| Operating Income | 118.67 | 119.26 | 0.5 % |
| Net Income | 89.01 | 91.45 | 2.8 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.11 | 0.11 | 2.8 % |
The company also cited lower Zakat and tax provision.
Revenue increased by 58%, or SAR 605.6 million compared to the same quarter last year on higher sales volumes.
On a quarterly basis, net earnings grew 2.7% from SAR 89.01 million.
Shareholders’ equity, after minority interest, reached SAR 1.89 billion by March 31, 2024, compared to SAR 1.69 billion in the prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}