Riyadh – Mubasher: Saudi Chemical on Monday reported a 2.2% year-on-year increase in its profits during the first quarter of 2018.

The company’s profits amounted to SAR 56.4 million in the three-month period ended March 2018, compared to SAR 55.2 million during Q1-17, according to a statement to the Saudi Stock Exchange (Tadawul).

Saudi Arabia-based firm attributed the rise of the first-quarter profits to a growth in sales, in addition to a slight decrease in general and administrative expenses.

Revenues grew 9.2% to SAR 791.18 million during the first three months of 2018, up from SAR 724.68 million in the corresponding period in a year earlier, the Tadawul-listed company said. 

The stock inched up 0.20% to close Monday at SAR 35.20.