The financial statements of the methanol chemicals company (Chemanol) showed an increase in the company's profits in the second quarter of this year by 53.2% year on year.
According to the company's results for the Saudi market (Tadawul), today, Monday, profits for the period amounted to 92.16 million riyals, compared to 60.17 million riyals, profits for the second quarter of 2021.
The company's revenues during the comparison periods increased by 42.7%, to reach 325.81 million riyals, compared to 228.3 million riyals, revenues for the same period last year.
The company said that the increase in profits during the comparison periods was mainly due to the increase in average selling prices and the geographical expansion of the company's sales.
The results also showed that the company achieved profits of 194.83 million riyals in the first half of this year, compared to 90.04 million riyals in the same period of the previous year, with a significant growth of 116.4%. .
