- RIYADH: Saudi Chemical Company has announced in its estimated financial results for Q1 2011 that net profit during the quarter was SR86 million against SR75 million (14 percent higher compared to last year’s same period) and SR88 million for the previous quarter (a decrease of two percent).
The gross profit during Q1 is SR112 million compared to SR98 million in the same period last year, an increase of 14 percent.
The operating profit during Q1 is SR93 million compared to SR82 million riyals of the previous year, with an increase of 13 percent.
Earnings per share for Q1 reached SR1.36 compared to SR1.18 of the previous year.
The increase of net income is due to increase in the sales during the Q1, which positively affected the consolidated net profit.
The interim consolidated financial results will be announced next week.