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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

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Its net profit for H1 was $474 million.

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It will be utilized in a phased manner.

Sadara Chemical Co. posts SR3.1bn profit

The company attributed the results to “continuous financial discipline, and the recognition of a modification gain of SR1.05 billion from debt reprofiling.”
By TRENDS Desk
March 14, 2022 4:57 pm
  • On the back of higher selling prices, the giant JV, specialized in producing a wide range of specialty chemicals, erased losses of SR3.2 billion sustained a year earlier
  • The 200-percent increase in profit was coupled with a rise in revenue of over 67 percent to as high as SR17.6 billion during the year

Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a net profit of SR3.1 billion in 2021, a bourse filing revealed.

On the back of higher selling prices, the giant JV, specialized in producing a wide range of specialty chemicals, erased losses of SR3.2 billion ($853 million) sustained a year earlier.

The 200-percent increase in profit was coupled with a rise in revenue of over 67 percent to as high as SR17.6 billion during the year.

The company attributed the results to “continuous financial discipline, and the recognition of a modification gain of SR1.05 billion from debt reprofiling.”

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