Saudi Chemical Co. Holding (SCCH) reported a profit leap of 65% to SAR 93.9 million in the first nine months of 2023, compared to SAR 56.8 million in the prior-year period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 2,621.18 | 3,445.99 | 31.5 % |
| Gross Income | 334.68 | 460.74 | 37.7 % |
| Operating Income | 120.06 | 198.67 | 65.5 % |
| Net Income | 56.83 | 93.88 | 65.2 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.07 | 0.11 | 65.2 % |
The nine-month results were driven by higher operating profit and sales volumes, an increase in the prices of some products and lower foreign exchange (FX) losses.
On the other hand, SCHC reported increased finance costs (FCs) as well as Zakat and tax provisions.
It also recorded a decline in revaluation gains from derivative financial instruments related to interest rate exposure.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 760.51 | 1,200.01 | 57.8 % |
| Gross Income | 93.49 | 163.22 | 74.6 % |
| Operating Income | 22.83 | 72.05 | 215.5 % |
| Net Income | 10.33 | 35.10 | 240.0 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.01 | 0.04 | 240.0 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 1,206.67 | 1,200.01 | (0.6 %) |
| Gross Income | 145.30 | 163.22 | 12.3 % |
| Operating Income | 56.72 | 72.05 | 27.0 % |
| Net Income | 26.51 | 35.10 | 32.4 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.03 | 0.04 | 32.4 % |
The third-quarter net profit skyrocketed to SAR 35.1 million from SAR 10.3 million in Q3 2022, thanks to a rise in operating profit and sales volumes and better prices of some products despite higher FCs.
Net earnings increased by 32.2% from SAR 26.5 million in Q2 2023, as operating profit increased. Meanwhile, the Zakat and tax provision declined.
Total shareholders’ equity, after minority interest, increased to SAR 1.75 billion as of Sept. 30, 2023, from SAR 1.67 billion in the year-earlier period.
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}}