Riyadh – Mubasher: Sadara Basic Services Company said that its parent company, Sadara Chemical Company, posted a 145.89% year-on-year hike in losses for the first quarter of 2019.
Net losses amounted to SAR 1.25 billion in Q1-19, compared to SAR 510.11 million in Q1-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.
The increase in Q1-19 net loss is backed by a decrease in the sales of the performance materials segment.
Revenues of the Saudi-based company plunged 38.5% to SAR 2.48 billion during the first three months of 2019, versus SAR 4.04 billion in the same period of the prior year.
