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Methanol Chemicals’ Q1 losses slid 97%

Methanol Chemicals’ Q1 losses slid 97%
Net losses recorded SAR 310,000 in Q1-19
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Riyadh – Mubasher: Methanol Chemicals reported a 97% year-on-year fall in its losses for the first quarter of 2019.

Net losses recorded SAR 310,000 in Q1-19, against SAR 10.26 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Wednesday.

The drop in losses was attributed to the improvement in the operational performance of the company's units.

It is worth noting that Methanol Chemicals achieved SAR 2.33 million in profits in Q4-18.