Riyadh – Mubasher: The net profits after Zakat and tax of Methanol Chemicals Company (Chemanol) reached SAR 222.38 million in the first nine months (9M) of 2022, up 35.47% from SAR 164.15 million in 9M-21.
Revenues surged by 29.53% year-on-year (YoY) to SAR 871.26 million in the January-September 2022 period from SAR 672.65 million, according to interim income statements.
Meanwhile, the earnings per share (EPS) went up to SAR 3.30 in 9M-22, compared to SAR 2.43 during the same period a year earlier.
During the third quarter (Q3) of 2022, the Tadawul-listed firm recorded net profits after Zakat and tax worth SAR 27.55 million, down 62.83% YoY from SAR 74.11 million.
The company generated SAR 239.81 million in revenue during July-September 2022, lower by 3.90% than SAR 249.55 million in the year-ago period.
On a quarterly basis, the Q3-22 net profits after Zakat and tax plunged by 70.11% from SAR 92.16 million in Q2-22, while the revenues shrank by 26.39% from SAR 325.81 million.
In the first half (H1) of 2022, Chemanol posted a 116.38% leap in net profit after Zakat and tax to SAR 194.83 million, versus SAR 90.04 million in H1-21.
