According to ZAWYA’s article published on October 21, 2022, the net profits after Zakat and tax of Methanol Chemicals Company (Chemanol) reached SAR 222.38 million in the first nine months (9M) of 2022, up 35.47% from SAR 164.15 million in 9M-21.
Revenues surged by 29.53% year-on-year (YoY) to SAR 871.26 million in the January-September 2022 period from SAR 672.65 million, according to interim income statements.
Meanwhile, the earnings per share (EPS) went up to SAR 3.30 in 9M-22, compared to SAR 2.43 during the same period a year earlier.
During the third quarter (Q3) of 2022, the Tadawul-listed firm recorded net profits after Zakat and tax worth SAR 27.55 million, down 62.83% YoY from SAR 74.11 million.
The company generated SAR 239.81 million in revenue during July-September 2022, lower by 3.90% than SAR 249.55 million in the year-ago period.
On a quarterly basis, the Q3-22 net profits after Zakat and tax plunged by 70.11% from SAR 92.16 million in Q2-22, while the revenues shrank by 26.39% from SAR 325.81 million.
In the first half (H1) of 2022, Chemanol posted a 116.38% leap in net profit after Zakat and tax to SAR 194.83 million, versus SAR 90.04 million in H1-21.
