Methanol Chemicals Company (Chemanol) announces the interim financial results for the period ended 30/09/2011 as follows:
1.Net profit during the third quarter amounted to SAR 26.65 million as compared to loss of SAR (15.63) million for the same period of last year and SAR 10.60 million in the previous quarter, which is increase of 152%
2.Gross profit during the third quarter amounted to SAR 55.01 million as compared to SAR 19.96 million for the same period of last year which is an increase of 176%
3.Total operating profit during the third quarter amounted to SAR 35.96 million as compared to loss of SAR (1.21) million for the same period of last year
4.Net profit during nine months amounted to SAR 46.89 million as compared to SAR 2.04 million for the same period of last year which is an increase 2199%
5.Earnings per share in the nine months amounted to SAR 0.39 as compared to SAR 0.02 for the same period of the last year
6.Gross profit during nine months amounted to SAR 138.83 million as compared to SAR 80.82 million for the same period of last year which is an increase of 72%
7.Total operating profit during nine months amounted to SAR 77.94 million as compared to SAR 23.21 million for the same period of last year which is an increase of 236%
8.The increase in net profit for the third quarter of 2011 is mainly due to improved sales volume, sales prices as well as higher operational efficiencies for all products over the same period of last year
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