AlwaysFree: Saudi Arabia’s Chemanol Turns To Profits In January-September 2021

Saudi Arabia’s Methanol Chemicals Company (Chemanol) turned to a net profit of SAR164.15 million ($43.71 million) in January-September 2021, swinging from net losses of SAR262.34 million in the first nine months of 2020. Chemanol posted sales of SAR672.65 million ($179.72 million) in the period, up from SAR351.08 million a year earlier. The company’s net profits after Zakat and tax stood at SAR74.1 million ($19.73 million) in the third quarter, turning from net losses of SAR202.45 million a year earlier. Quarterly sales came in at SAR249.55 million ($66.45 million), compared to SAR132.28 million in the prior-year period.