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Nama Chemicals turns profitable in 2018

Nama Chemicals turns profitable in 2018
Nama Chemicals attributed the positive turn in 2018 financials to a rise in the average of selling prices
NAMA CHEMICALS
2210
6.64% 32.10 2.00

Riyadh – Mubasher: Nama Chemicals Company on Tuesday reported turning a profit during 2018, against suffering losses in 2017.

The firm’s net profits after calculating Zakat and Tax amounted to SAR 35.3 million ($9.41 million) last year, against SAR 1.52 million ($405,000) in losses during 2017, according to a bourse filing.

Nama Chemicals attributed the positive turn in 2018 financials to a rise in the average of selling prices, coupled with lower selling and marketing expenses.

The Tadawul-listed firm suffered a net loss of SAR 17 million from October to December 2018, against SAR 7.11 million in profits during Q4-17, according to data compiled by Mubasher.

Nama Chemicals Company’s stock levelled up 1.32% to end Tuesday's trading session at SAR 26.80.