Saudi’s NAMA Chem posts $9.2m net profit in ’10 on improved sales

21 February 2011 08:39  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s NAMA Chemicals said on Monday it recorded Saudi Riyals (SR) 34.5m ($9.2m) in net profit last year, reversing a loss of SR49.8m in 2009, as sales volumes and prices had improved.

Its gross profit surged by SR112m in 2010 from SR11m in the previous year, the company said in a statement to the Saudi Stock Exchange (Tadawul).

NAMA Chemicals generated SR44.8m in operating profit last year, a complete reversal of the SR44.5m loss in 2009, the company said.

The Saudi Arabian firm produces epoxy, caustic soda, epichlorohydrin (ECH), calcium chloride, hydrochloric acid (HCI) and sodium hypochlorite, according to its website.

($1 = SR3.75)

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By: Pearl Bantillo
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