‎Saudi Chemical Q1 2022 profit drops 20% to SAR 32.7 mln

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Saudi Arabia

‎Saudi Chemical Q1 2022 profit drops 20% to SAR 32.7 mln

Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 32.7 million in Q1 2022, a 20% decline, compared to SAR 40.8 million in the year-earlier period.

The decline was due to a drop in pharma sector sales, as well as other revenues.

Sequentially, net profit after Zakat and tax turned to a net profit from a net loss of SAR 6.3 million in Q4 2021.

Total shareholders’ equity, excluding minority interest, declined 1.2% to SAR 1.65 billion in Q1 2022, compared to SAR 1.67 million in the year-ago period.

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