Riyadh – Mubasher: Saudi Arabia-based, Basic Chemical Industries Company (BCI) on Thursday said its net profits increased by 13.31% year-on-year in the third quarter of 2017.
Net profits grew to SAR 8.26 million in Q3-17, from SAR 7.29 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits retreated 34.03%.
The Saudi basic chemical industries firm attributed the growth in its year-on-year net profits to higher sales, and decrease in general and administrative expenses.
At the level of the first nine months of 2017, the company’s net profits tumbled 14.58% to reach SAR 26.71 million, compared to SAR 31.27 million in the corresponding period in the year earlier.
By 10:33 am KSA time, BCI’s stock inched up 0.41% to reach SAR 19.52.
