Riyadh – Mubasher: Basic Chemical Industries Company (BCI) on Tuesday reported a 13.48% year-on-year profit growth during the full-year 2018.
The Saudi firm’s net profits rose to SAR 49.67 million ($13.24 million) last year, compared to SAR 43.77 million ($11.67 million) in 2017, according to initial data published on the Saudi Stock Exchange (Tadawul).
The company attributed 2018 profit increase to the growth in sales revenues for some companies in the group, along with the decrease in zakat and income tax.
During the fourth quarter of 2018, BCI’s net profits fell 33.4% to SAR 11.37 million from SAR 17 million in the year-ago period.
As for Q3-18, the company’s profits dropped 12.47% to SAR 9.29 million, logging SAR 38.3 million in the first nine months of 2018.
