39.0500
Change
-0.4500
Change %
1.1392%
Open
39.5000
Close
39.5500
High
39.6000
Low
39.0500

Saudi Chemical FY18 profit falls 19%; board proposes 33.33% capital hike

2019-03-28 10:34:02 GMT (Economies.com)
 

Saudi Chemical Co. posted a 19.2% decline in net profit for the fiscal year 2018, to SAR 114.8 million, compared to SAR 142.1 million a year earlier, according to a filing to Tadawul on Thursday.

 

FY18 net operating income amounted to SAR 183.9 million, compared to SAR 187.6 million in the year-ago period.

 

The profit decline was ascribed to a decrease in sales of high-yield explosives, in addition to a rise in operating expenses.

 

FY18 revenues increased by 19.2% to SAR 2.9 billion, from SAR 2.5 billion in the same period a year earlier.

 

Meanwhile, financial results for the first nine months of 2018 amounted to SAR 97.75 million, down 12.4% year-on-year from SAR 111.58 million.

 

The board of directors recommended the increase in capital by 33.33% to SAR 84.320 million, from SAR 63.240 million, through 1-for-3 bonus share distribution. 

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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