Methanol Chemicals Co. — Earnings Release 2011

Feb 19, 2012

METHANOL CHEMICALS COMPANY (CHEMANOL) ANNOUNCES THE ANNUAL FINANCIAL RESULTS FOR THE PERIOD ENDING AT DECEMBER 31, 2011

2001 · 19/02/2012 08:55:42 · Announcement #24150 · View on Saudi Exchange

METHANOL CHEMICALS COMPANY (CHEMANOL) ANNOUNCES THE ANNUAL FINANCIAL RESULTS FOR THE PERIOD ENDING AT DECEMBER 31, 2011

1.Net profit for the period amounted to SAR 70.21 million as compared to SAR 6.04 million for the same period of previous year which is an increase of 1062%

2.Earnings per share amounted to SAR 0.58 as compared to SAR 0.05 for the same period of the previous year

3.Gross profit for the period amounted to SAR 191.81 million as compared to SAR 118.92 million for the same period of previous year which is an increase of 61%

4.Total operating profit for the period amounted to SAR 110.82 million as compared to SAR 40.04 million for the same period of previous year which is an increase of 177%

5.The increase in net profit in 2011 is mainly due to improved sales volume, sales prices as well as higher operational efficiencies over the same period of previous year

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