Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) achieved a net profit after Zakat and tax worth SAR 90.04 million during the first half (H1) of 2021, against losses of SAR 59.88 million in H1-20.

Earnings per share stood at SAR 0.75 in the January-June 2021 period, versus a loss per share worth SAR 0.5 in the same period in 2020, according to the interim income statements on Sunday.

Revenues, meanwhile, surged annually by 93% to SAR 423.09 million in H1-21 from SAR 218.8 million in H1-20.

As for the second quarter (Q2) that ended on 30 June 2021, Chemanol turned to profits worth SAR 60.17 million against losses of SAR 31.28 million in Q2-20.

Revenues jumped 131.7% to SAR 228.3 million in Q2-21 from SAR 98.5 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were higher by 101% than SAR 29.88 million in Q1-21. Revenues were also higher by 17% than SAR 194.79 million.

Earlier this month, the listed company said its accumulated losses decreased to represent 0% of the capital as on 28 June 2021.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.