Saudi Chemical Co’s profit drops
March 21, 2022 00:00:00
RIYADH, Mar 20 (Arab News): Saudi Chemical Co. has seen a 5-per cent drop in profit in 2021 as its cost of revenue soared despite the company making a reduction in general expenses.
The Saudi-listed firm's net profit dropped to SR70 million ($18.6 million) from SR74 million a year earlier, according to a bourse filing.
The company's profit took a hit on account of a 3-percent rise in the cost of revenue and expected credit loss on trade receivables provision.
