Financial Results : Nama Chemicals widens Q1 2020 net losses to SAR 7.3 mln

Nama Chemicals widens Q1 2020 net losses to SAR 7.3 mln

21/05/2020 Argaam Exclusive

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Nama Chemicals Co. widened its net loss after Zakat and tax to SAR 7.3 million for the first quarter of 2020, compared to SAR 2.2 million in the same period last year.

 

The losses were attributed to lower average selling prices despite decline in raw material cost and lower selling and marketing expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 148.26 120.02 (19.0 %)
Gross Income 26.62 9.57 (64.0 %)
Operating Income 3.90 (6.57) (268.6 %)
Net Income (2.22) (7.33) (230.2 %)
Average Shares 23.52 23.52 -
EPS (Riyals) (0.09) (0.31) (230.2 %)

The company reported a net loss in Q1 compared to a net profit after Zakat and tax of SAR 10.8 million for Q4 2019.

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