Riyadh – Mubasher: Saudi Chemical Company posted its initial financial results for the second quarter of 2019.

Net profits after zakat and tax grew 11.15% to SAR 30.9 million in Q2-19, compared to SAR 27.8 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Wednesday.

The rise in net profit is mainly due to an increase in sales.

Total revenues of the Saudi-based firm levelled up 19.05% year-on-year to SAR 778.4 million during the three-month period ended June.

For the first half of 2019, the company’s net profits retreated by 16.6% to SAR 70.2 million, versus SAR 84.2 million in H1-18.

As for revenues, they jumped by 12.1% to SAR 1.62 billion during the first six months of 2019, compared to SAR 1.44 billion in the corresponding period last year.

Moreover, profit per share stood at SAR 1.11 by the end of June, from SAR 1.33 in the same period the year before.