Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) achieved a net profit after Zakat and tax worth SAR 90.04 million during the first half (H1) of 2021, against losses of SAR 59.88 million in H1-20.
Earnings per share stood at SAR 0.75 in the January-June 2021 period, versus a loss per share worth SAR 0.5 in the same period in 2020, according to the interim income statements on Sunday.
Revenues, meanwhile, surged annually by 93% to SAR 423.09 million in H1-21 from SAR 218.8 million in H1-20.
As for the second quarter (Q2) that ended on 30 June 2021, Chemanol turned to profits worth SAR 60.17 million against losses of SAR 31.28 million in Q2-20.
Revenues jumped 131.7% to SAR 228.3 million in Q2-21 from SAR 98.5 million in Q2-20.
On a quarterly basis, the net profits in Q2-21 were higher by 101% than SAR 29.88 million in Q1-21. Revenues were also higher by 17% than SAR 194.79 million.
Earlier this month, the listed company said its accumulated losses decreased to represent 0% of the capital as on 28 June 2021.
