Nama Chemicals becomes profitable in the second quarter with 9.5 million riyals

Nama Chemicals Company transformed profitability in the second quarter of 2021 to 9.6 million riyals, compared to losses in the second quarter of 2020 of 3.33 million riyals.

The profits of “Namaa” in the first half of 2021 were approximately 19.5 million riyals, compared to losses of 10.7 million riyals in the corresponding period last year.

The company said its return to profitability in the second quarter is due to the increase in average selling prices of most end products and the decrease in financing expenses.

The company also benefited from the increase in income from equity investments due to the recognition of dividends in the period.

“Namaa” said that the move to profitability occurred despite the increase in sales and marketing expenses as a result of the increase in quantities sold, as well as shipping prices and the increase in prices of most materials. prime for products.

General and administrative expenses also increased to make up some provisions in the period.

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