Nama Chemicals announced its FY18 financial results, showing net profit of SAR35mn (vs. net loss of SAR1.5mn in FY17). Gross profit came in at SAR128mn (+40% Y-o-Y), while operating profit was stated at SAR62mn (+208% Y-o-Y). Revenues were SAR624mn, up 4% Y-o-Y. The company highlighted that the increase in net profit for FY18 is due to the increase in average selling prices of finished goods despite a decrease in volumes sold.
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