Riyadh-Mubasher: Methanol Chemical Co.’s (Chemanol) net losses retreated 83% year-on-year to SAR 3.58 million ($0.954 million) in the second quarter of 2016 from SAR 21.55 million ($5.7 million).
“The decline in net losses was attributed to the final settlement of SAR 29 million on the insurance claim against Para plant limited fire happened during Q3-14,” according to a bourse filing on Wednesday.
The Saudi-listed company’s net losses decreased 5% to SAR 34.87 million in the first six months of 2016 from SAR 36.69 million in the same period of the previous year.
