Riyadh – Mubasher: Saudi Arabia-based, Methanol Chemicals Company (Chemanol) on Wednesday narrowed its losses by 73.2% in the third quarter of 2017, compared to the year-ago period.
Chemanol’s losses stood at SAR 9.9 million in Q3-17, compared to SAR 36.9 million in Q3-16, according to a bourse filing.
The firm attributed the decrease in its losses to sales’ improvement in some of its main products, and to lower operating expenses.
Chemanol trimmed its losses by 79.9% to reach SAR 12.9 million from January until September 2019, compared to SAR 64.3 million in the same period in the year before.
