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Sipchem's corporate logo is seen at the company headquarters in Khobar, Saudi Arabia, May 12, 2019. Hamad I Mohammed, Reuters Image used for illustrative purpose. Reuters Images
Riyadh: Sahara International Petrochemical Company (Sipchem) posted 7.60% year-on-year (YoY) higher net profits at SAR 195.30 million in the first quarter (Q1)of 2025, versus SAR 181.50 million.
The Saudi company’s revenues climbed by 2.34% YoY to SAR 1.96 billion in Q1-25 from SAR 1.92 billion, the interim financial results showed.
Earnings per share (EPS) went up to SAR 0.27 as of 31 March 2025 from SAR 0.25 in Q1-24.
On a quarterly basis, the net profits generated in Q1-25 surged by 876.50% from SAR 20 million in Q4-24, while the revenues hiked by 13.27% from SAR 1.73 billion.
In February 2025, Sipchem’s Acrylic Complex investee penned SAR 1.30 billion refinancing agreements with a consortium of local banks.
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