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Regions :: Middle East

Chemanol Reports Higher Q2 Profits

2:47 AM MDT | July 9, 2012 | Natasha Alperowicz

Methanol Chemicals Co. (Chemanol; Al-Dammām, Saudi Arabia), formerly Saudi Formaldehyde Chemical Co., more than doubled its profits in the second quarter. Net profit in the quarter ending June 30, 2012, rose to SR25.83 million ($6.9 million), much higher than the SR10.6 million in the equivalent quarter of 2011. Operating profit in the second quarter increased to SR37.6 million, another jump compared with the SR21.5 million in the year-ago period. Net profit for the six months ending June 30, 2012, were SR51.08 million...

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