Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) achieved net profits after Zakat and tax worth SAR 12.51 billion in the first half (H1) of 2021, against losses of SAR 3.27 billion in H1-20.

Earnings per share stood at SAR 4.17 in H1-21, versus a loss per share of SAR 1.09 in H1-20, according to a bourse filing on Thursday.

Revenues surged by 45.8% to SAR 79.95 billion in H1-21 from SAR 54.81 billion in H1-20.

During the second quarter (Q2) of 2021, SABIC also turned profitable at 7.64 billion, against net losses of SAR 2.22 billion in Q2-20.

Revenues soared by 72% to SAR 42.42 billion in Q2-21 from SAR 24.62 billion in Q2-20.

On a quarterly basis, the company’s net profits in Q2-21 were 57% higher than SAR 4.86 billion in Q1-20, and the revenues increased by 13% from SAR 37.53 billion.

SABIC earlier announced cash dividends worth SAR 2.25 billion for H1-21 that will be distributed in October.