Riyadh – Mubasher: Basic Chemical Industries Company (BCI) on Sunday posted a 12.46% year-on-year increase in net profits for the third quarter of 2018.
Net profit amounted to SAR 9.29 million in the three-month period ended September, up from SAR 8.26 million in the corresponding quarter a year earlier, BCI said in a filing to the Saudi Stock Exchange (Tadawul).
The chemicals firm attributed the third-quarter profit increase to lower cost of goods sold and higher operating income.
On the other hand, profits dropped 28.5% quarter-on-quarter from SAR 13 million.
Sales fell slightly to SAR 143.26 million in Q3-18, from SAR 144.18 million in the year-ago period.
In the first nine months of this year, the company logged SAR 38.3 million in profits, up 43.4% year-on-year from SAR 26.7 million.
Sales grew 6.24% to SAR 448.41 million in the January-September period, from SAR 422.07 million in the same nine-month period of 2017.
BCI previously reported SAR 13 million in profits for Q2-18, up from SAR 12.5 million in Q2-17.
The Tadawul-listed company also logged SAR 29 million in profits during the first half of the year, compared to SAR 18.4 million during H1-17.
