Saudi Chemical in ‘very strong’ financial position, says CEO

Saudi Chemical Co. is in a very strong financial position and is sitting on a lot of liquidity, chief executive, Mohammed Al-Badr, told CNBC Arabia on Monday.

“Decision on dividends, however, is taken by the board of directors,” Al-Badr said.

He added that investment in the pharmaceutical sector is promising, and that the company is planning expansions locally and in the GCC region.

In addition, Saudi Chemical’s factory produces and distributes a large quantity of pharmaceuticals worldwide.

In August, Al-Badr told Argaam that the company signed contracts with several foreign entities to produce and sell various pharmaceutical products, in addition to manufacturing some explosives.

The company’s Q3 2017 net profit jumped 51 percent year-on-year to SAR 27.9 million.