Methanol Chemical Company (Chemanol), a producer of Methanol and Formaldehyde, reported a net profit of SAR 50.4m for the nine months ended September 30, 2014, 40% increase compared to the same period last year.
A net profit of SAR 10.3m was reported for Q3-2014 compared to SAR 15.9m in Q2.
|Gross Income||146.29||159.30||8.9 %|
|Operating Income||71.21||78.36||10.0 %|
|Net Income||36.13||50.41||39.5 %|
|EPS (Riyal)||0.30||0.42||39.5 %|
The Company attributed the increase of the first nine months of 2014’s net profit compared to the same period in 2013, to the following:
- Increase of sales of the current quarter as compared to the same quarter of the last year by about SAR 61 i.e. 10% was due to the notable increase of the prices of some products during the first and second quarters of the current year. It is worth to mention that the decrease in the profits of the same quarter of the last year was due to the Scheduled shutdown of Methanol and DMF plants on 25/05/2013 and implementation of cut off sales procedure in compliance to IFRS.
Q3-2014’s net profit decline compared to the same period last year was due to the increase of cost of sales as compared to same quarter of last year, as well as the shutdown of the Para Formaldehyde unit due to the limited fire incident.
The decline of Q3’s net profit compared to the previous period (Q2-2014) was attributed to the shutdown of the Para Formaldehyde unit due to the limited fire incident, also due to the differences which were restored from the Department of Zakat and Income.
|Period||Revenues||Gross Income||Net Income||EPS (Riyal)||Earnings Growth|
|2018 - Q4||161.51||41.08||2.33||0.02||115.74 %|
|2018 - Q3||187.22||60.14||22.45||0.19||326.69 %|
|2018 - Q2||195.71||69.54||31.63||0.26||1,109.06 %|
|2018 - Q1||157.17||24.81||(10.26)||(0.09)||(82.85 %)|
|2014 - Q3 (e)||2014 - Q3 (a)||Change|
|Company||2014 - Q3 (e)||2014 - Q3 (a)||Difference|
|Saudi Fransi Capital||17.00||10.34||64.4 %|
|P/E Before Unusual Items (TTM)||HIGH|
|Market Cap. (M)||950.33|
|Return on Average Assets||0.75 %|
|Return on Average Equity||1.41 %|