Riyadh – Mubasher: Saudi Chemical Company reported a 0.74% year-on-year decrease in its profits for the third quarter of 2019, registering SAR 13.4 million.

Revenues of the Saudi firm increased by 17.27% to SAR 739.8 million in Q3-19, compared to SAR 630.8 million in Q3-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.

The company attributed the slight decrease in net profit the increase in the operational expenses, finance costs and zakat provision, in which on the other hand, the sales are increased.

During the period between January and September, net profits of Saudi Chemical reached SAR 83.6 million, 14.4% lower from SAR 97.7 million in the corresponding period of 2018.

On a yearly basis, revenues advanced by 14.6% to SAR 343.1 million by the end of September.

Profit per share recorded SAR 1.3 in nine months, versus SAR 1.55 in the same period last year.