Feb 21 2011 |
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NAMA Chemicals announces its financial results for 2010 with an increase of 918% in gross profits.
Jubail: February 21st 2011: NAMA Chemicals (SFM Listed under the symbol 2210), one of the leading chemical producers in the region, has announced its financial results for 2010 year ended 31/12/2010, indicating an increase of 918% in gross profits from 2009, which pertains to SR 112 million against SR 11 million in 2009.The company has recorded a net profit of SR 34.5 Million in 2010, compared against a net loss of SR 49.8 Million in 2008. Earnings per share for the year reached SR 0.27 against loss per share SR 0.39 for 2009. NAMA Chemicals operation profit for 2010 amounted to SR 44.8 million against operation loss of SR 44.5 million in 2009.
Abdulmohsen Al Al-Ogaili, CEO of NAMA commented "2010 was an excellent year for the company and we have established new records and reached new heights despite the continued difficult conditions imposed by the financial crisis on economies around the world. We have continued to meet our commitments with our clients and have attracted a number of new customers which has improved our sales in terms of volume throughout the year."
NAMA Chemicals reached several milestones in 2010, most importantly was the commercial start up of our HASSAD plants, increasing epoxy output establishing new heights as epoxy production reached an annual all time high of 49,669 MT, Sales crossed the fifty thousand tones mark for the first time and in 2010, our employees were made partners in the company by offering them company shares in an arrangement which was one of its kind in the local industry.
About
NAMA
Chemicals:
Established in 1992, is a Saudi multicultural joint stock corporation that creates value to the national economy by utilizing local natural resources in its dynamic growth strategy in the chemical and petrochemical businesses. We strive to meet the growing global demand for quality products that contribute to, and enhance the safety and quality of lives for millions around the world. Our commitment to the highest standard of health, safety and responsible care practices are a core value of our business. In addition, we strongly emphasize our most valuable assets - our employees' advancement and training.
For more info, please contact:
NAMA
chemicals
Hamad Al Merri
Public Relations Officer
Tel No.: +966 50 5813156
Info@nama.com.sa
For media enquiries, please contact:
Tarteeb Media and Communication
Neila Srioui
Senior Account Manager
+971 50 554 0580
neila@tarteeb.com
© Press Release 2011
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