Saudi Chemical on Thursday reported an 82.6% year-on-year jump in its net profits for the fourth quarter of 2017.
The company’s net profits amounted to SAR 30.4 million during Q4-17, compared to SAR 16.7 million in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).
For the full year of 2017, the Saudi chemical firm’s profits increased 6% to SAR 142 million versus SAR 134 million in the year before.
Saudi Chemical attributed the rise in its annual profits to a growth in drugs’ sales.
The stock inched down 0.4%, closing Thursday at SAR 32.40.