Riyadh – Mubasher: Methanol Chemical Company (Chemanol) reported a 79.6% drop in net losses to SAR 5.61 million in the first quarter of 2017 from SAR 27.45 million ion Q1-16.
The company said that losses decreased as a result for an enhancement in operational costs due to expenses rationalisation programme, in addition to better selling prices.
Revenues rose 7% to SAR 179.4 million in Q1-17 compared to SAR 167.2 million in Q1-16.
