Saudi Chemical records $8.53mln net profit in Q1-23

Riyadh – Saudi Chemical Company announced net profits after Zakat and tax worth SAR 32.27 million, down by 1.34% from SAR 32.71 million in Q1-22.

The revenues soared by 14.97% to SAR 1.03 billion during the first three months (3M) of 2023 from SAR 903.99 million in the same period a year earlier, according to the financial results.

The earnings per share (EPS) went up to SAR 0.38 in Q1-23 from SAR 0.39 in Q1-22.

On a quarterly basis, the net profits in Q1-23 were 37.91% higher than SAR 23.40 million in Q4-22, while the revenue declined by 3.29% from SAR 1.07 billion.

In 2022, Saudi Chemical logged net profits worth SAR 80 million and generated higher revenues of SAR 3.69 billion.

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