Riyadh – Mubasher: Basic Chemical Industries Company (BCI) on Sunday announced that its net profits decreased by 5.3% year-on-year in the second quarter of 2017.
Net profits stood at SAR 12.5 million in Q2-17, compared to SAR 13.2 million in Q2-16, according to BCI’s statement to the Saudi Stock Exchange (Tadawul).
The firm attributed the decline in its year-on-year net profits to the increase in sales’ cost.
Sales edged up 0.81% to SAR 149.5 million in Q2-17, from SAR 148.3 million in the year-ago period.
At the level of the first six months of 2017, net profits retreated 23.3% to reach SAR 18.4 million, compared to SAR 24 million in H1-16.
Sales levelled down 6.18% to SAR 277.9 million in H1-17, from SAR 296.2 million in the corresponding period in the year earlier.
BCI’s stock tumbled 0.88%, closing at SAR 20.24 on Thursday.
