Riyadh – Mubasher: SABIC Agri-Nutrients Company’s net profit declined by 5.26% year-on-year (YoY) to SAR 1.54 billion during the first half (H1) of 2024 from SAR 1.63 billion.

The company’s revenue inched lower by 3.61% YoY to SAR 5.19 billion in H1-24 from SAR 5.38 billion in H1-23, according to interim financial results.

The earnings per share (EPS) reached SAR 3.25 from January until the end of June, from SAR 3.43 in the corresponding period a year earlier.

Quarterly Results

During the second quarter (Q2) of 2024, SABIC Agri-Nutrients’ net profit grew by 8.29% to SAR 705 million from SAR 651 million.

Sales edged higher by 1.78% to SAR 2.67 billion in Q2-24 from SAR 2.62 billion.

Quarter-on-quarter (QoQ), the company’s net profit dropped by 16.17% in Q2-24 from SAR 841 million in previous quarter, while sales increased by 6.31% from SAR 2.51 billion.

It is worth noting that SABIC Agri-Nutrients’ net profit plunged by 14.27% to SAR 841 million in Q1-24 from SAR 981 million.