Riyadh – Mubasher: Saudi Chemical’s net profit retreated 38.9% to SAR 47.69 million ($12.7 million) in the second quarter of 2016 from SAR 78.06 million ($20.8 million) in the same period of 2015.
The decrease in net profit was attributed to lower sales, added to the rise in expenses of a subsidiary company and higher financial costs and Zakat provision, according to a bourse filing on Wednesday.
The Saudi-listed pharmaceutical company’s profit fell 39% to SAR 100.17 million in the first six months of 2016 from SAR 164.28 million in the year-ago period.
