Riyadh – Mubasher: Nama Chemicals on Monday decreased its losses by 93.47% in the third quarter of 2017, compared to the year-ago period.

Net losses tumbled to SAR 2.02 million in Q3-17, from SAR 30.92 million in Q3-16, according to a bourse statement.

Quarter-on-quarter, losses declined 26.55%.

The firm attributed the drop in its year-on-year net losses to achieving higher sales, and to the ongoing cost-efficiency programme that led to a drop in selling and marketing expenses.

Net losses declined 89.77% to reach SAR 8.62 million in the first nine months of 2017, compared to SAR 84.3 million in the same period in 2016.

Nama Chemicals’ stock lost 1.83%, closing at SAR 19.35 on Monday.