Basic Chemical Industries Co. (BCI) reported a net profit of SAR 164,000 after minority interest in Q1 2024, against a loss of SAR 4 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 177.78 | 179.68 | 1.1 % |
| Gross Income | 36.70 | 43.21 | 17.7 % |
| Operating Income | 11.22 | 18.36 | 63.6 % |
| Net Income | (4.04) | 0.16 | 104.1 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | (0.15) | 0.01 | 104.1 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 185.21 | 179.68 | (3.0 %) |
| Gross Income | 44.24 | 43.21 | (2.3 %) |
| Operating Income | 14.59 | 18.36 | 25.8 % |
| Net Income | 13.51 | 0.16 | (98.8 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.49 | 0.01 | (98.8 %) |
The improved results were attributed to an increase year-on-year (YoY) in sales of basic chemicals to SAR 4.1 million, due to a 17% rise YoY in tonnage sold on higher revenues by SAR 11.7 million. In addition, selling prices dropped by 16% YoY, leading to a revenue fall by SAR 7.6 million.
The company also cited an increase in sales of toll manufacturing and water treatment chemicals to SAR 1.4 million.
Sequentially, the company's Q1 2024 net earnings dropped 98.8% from SAR 13.51 million, mainly due to a decline in sales of basic chemicals by SAR 6.1 million.
Total shareholders’ equity, excluding minority interest, stood at SAR 592.51 million as of March 31, 2024, compared to SAR 609.43 million a year earlier.
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}}