RIYADH: Saudi-listed Nama Chemicals Co. saw its shares decline by 0.23 percent to SR 42.85 at the closing session of Sunday, down from SR42.95 last Thursday, despite a 207 percent profit jump in the first half of 2022.
Its profit peaked at SR60 million ($16 million), compared to SR20 million in the prior-year period, according to a bourse filing.
The profit hike was coupled with an increase in revenue of 15 percent to SR327 million compared to the same period of last year.
The firm attributed the increase in profit to an improvement in average profit margins on some finished products, and a reduction in zakat provision, despite a decrease in sold quantities.
