Wednesday, Oct 24, 2012
(This story was originally published on Tuesday.)
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Nama Chemicals Co. (2210.SA) Tuesday said its third-quarter loss narrowed 55% on the year due to lower production costs.
Nama said its loss has dropped to 13.2 million Saudi riyals ($3.52 million) in the third quarter from SAR29.3 million in the same period a year earlier.
This improvement couldn't offset the escalation of the company's loss for the first nine months. Nama said its nine-month loss widened 60% to SAR26.8 million from SAR16.8 million due to lower prices of its final products.
Nine-month losses per share widened to SAR0.21 from SAR0.13, the company said in a statement posted on the Saudi bourse website.
Nama's shares closed 1.8% lower at SAR13.6 in an overall negative market.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
24-10-12 0359GMT
