Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) recorded a 37.23% jump in net profit after Zakat and tax to SAR 3.11 billion during the first nine months (9M) of 2022, versus SAR 2.27 billion in 9M-21.
Revenues enlarged by 23.80% year-on-year (YoY) to SAR 8.54 billion in January-Septembers 2022, compared to SAR 6.89 billion, according to the interim financial results.
Moreover, the earnings per share (EPS) increased to SAR 4.30 in 9M-22 from SAR 3.12 in 9M-21.
During the third quarter (Q3) of 2022, Sipchem logged net profits after Zakat and tax worth SAR 774.40 million, lower by 24.78% than SAR 1.02 billion in Q3-21.
The revenues amounted to SAR 2.93 billion in Q3-22, up 17.29% YoY from SAR 2.50 billion.
On a quarterly basis, the company’s net profits after Zakat and tax in Q3-22 plummeted by 38.69% from SAR 1.26 billion in Q2-22, while the revenues declined by 7.96% from SAR 3.19 billion.
In the first half (H1) of 2022, Sipchem registered SAR 2.34 billion in net profit after Zakat and tax, an annual leap of 88.67% from SAR 1.24 billion.
