Riyadh – Mubasher: Nama Chemicals Company on Thursday announced turning to profit during the third quarter of 2018, against suffering losses in the year-ago period.

The firm’s net profits amounted to SAR 749,000 during Q3-18, versus a loss of SAR 2.023 million in Q3-17, according to a statement to the Saudi Stock Exchange (Tadawul).

Nama Chemicals attributed the positive turn in its third-quarter financials to a growth in the average selling products, coupled with lower selling and marketing expenses.

During the first nine months of 2018, the Tadawul-listed firm also turned to profit after generating SAR 52.36 million, against SAR 8.63 million in losses from January to September 2017.

Nama Chemicals’ stock jumped 7.34% to close Thursday’s trading session at SAR 30.70.