RIYADH: Saudi Methanol Chemicals Co., or Chemanol, has achieved the highest profit since its establishment, surging 244 percent in the first quarter of 2022.
The methanol manufacturer's profit rose to SR102 million ($27.2 million), compared to SR29 million for the same period a year earlier, it said in a bourse filing.
The company attributed the results to higher average selling prices despite higher production and supply chain costs.
