The initial financial statements of the National Petrochemical Company (Petrochem) showed a decline in profits for the first quarter of this year by 73.3% on an annual basis.
According to the company's results for the Saudi market (Tadawul) today, Thursday, the profits for the period amounted to 50 million riyals, compared to profits amounting to 187 million riyals for the same period in 2019. p>
The company said in a statement to the stock exchange that the decline in profits during the comparison periods is mainly due to a decrease in the prices of the company's products, a decrease in the quantities sold, and a decrease in other revenues. >
The company's profits were 42.2% in the last year, to reach 673 million riyals, with a cash dividend for that year of 240 million riyals.
