Riyadh-Mubasher: Saudi Arabia’s Basic Chemical Industries Co. (BCI) recorded net earnings of SAR 20.2 million in the fourth quarter of 2015, surging 210.7% compared with SAR 6.5 million in the prior-year period.
The profit growth in Q4 was fuelled by strong sales and decline in sale and distribution expenses, the chemical producer said.
Full-year net income also jumped 36% year-on-year from SAR 23.9 million to SAR 32.6 million.
The company attributed FY15 profit rise to low cost of sales and fall in general and administrative expenses.
