Methanol Chemicals Co. (Chemanol) narrowed its first half net loss by nearly 90 percent year-on-year (YoY) to SAR 2.99 million from SAR 27.4 million in the same period last year. The decrease in loss was attributed to improvement in sale prices and operating expenses, along with the company’s cost reduction program.
The company also noted an increase in cost of financing and prices of energy products, as well as a decrease in the sales volume of major products due to dumping practices and a decline in public expenditure on construction sector.
|Gross Income||41.03||71.90||75.2 %|
|Operating Income||(39.56)||2.80||107.1 %|
|Net Income||(27.37)||(2.99)||89.1 %|
|EPS (Riyal)||(0.23)||(0.02)||89.1 %|
On a sequential basis, the second-quarter net profit jumped significantly to SAR 2.6 million, compared to a profit of SAR 80,000 in Q2 2016, due to improvement in sale prices and operating expenses, along with the $ 5.5 million added to the company account (under other income) following the settlement with a marketing agent.
Chemanol had reported a net loss of 5.6 million in Q1 2017.
|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 %)|
|2017 - Q2 (e)||2017 - Q2 (a)||Change|
|P/E Before Unusual Items (TTM)||HIGH|
|Market Cap. (M)||958.77|
|Return on Average Assets||0.75 %|
|Return on Average Equity||1.41 %|