Riyadh – Mubasher: Basic Chemical Industries Company (BCI) on Monday announced 50.25% higher net profits after Zakat and tax during the first quarter (Q1) of 2020, logging SAR 15.07 million, compared to SAR 10.03 million in the same period in 2019, as shown in the company's interim financials. 

The company generated SAR 140.96 million in sales in the first three months of 2020, up by 7.6% from SAR 130.98 million, according to a statement to the Saudi Stock Exchange (Tadawul).

The growth in the net, gross, and operating profits over Q1-20 was driven by higher sales and lower general and administrative expenses.

In December 2019, the board of BCI recommended distributing cash dividends of SAR 27.5 million to shareholders for 2019.