The profits of the Saudi Chemical Holding Company decreased by 32% in the second quarter of 2021.
According to Arabiya Net, the company said, in a statement, that profits amounted to 27.26 million riyals, compared to 40.17 million riyals during the second quarter of 2020.
The company's revenues increased by 4.8% to 899.9 million riyals, compared to 858.72 million riyals during the same period last year.
The reason for the decrease in net profit is mainly due to the increase in the provision for decline in trade receivables and provision for zakat and tax, as well as selling, marketing, general and administrative expenses, despite the increase in sales of the pharmaceutical industries and Civilian explosives.
During the first half, the company's profits fell by 12.8% to 68.1 million riyals, while revenues rose by 12.7% to 1.9 billion riyals.
