Financial Results : Nama Chemicals turns to SAR 10 mln profit in Q1 2021

Nama Chemicals turns to SAR 10 mln profit in Q1 2021

02/05/2021 Argaam Exclusive

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Nama Chemicals Co. reported net profit after Zakat and tax of SAR 10 million for Q1 2021, versus net losses of SAR 7.33 million in year-earlier period, driven by higher average selling prices, increased sales volumes, and lower cost of finance.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 120.02 162.82 35.7 %
Gross Income 9.57 34.00 255.2 %
Operating Income (6.57) 12.84 295.5 %
Net Income (7.33) 9.97 236.1 %
Average Shares 23.52 23.52 -
Earnings Per Share before unusual items (Riyals) (0.31) 0.42 236.1 %
EPS (Riyals) (0.31) 0.42 236.1 %

When compared to the previous quarter, the company swung to profit versus SAR 24.68 million losses in Q4 2020, on lower selling and distribution expenses.

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