Kemnhoul reports second-quarter losses

Methanol Chemicals Company "Kimanol" recorded quarterly losses exceeding 46 million SAR in the second quarter of the year, due to a 23% decline in sold quantities and supply chain challenges that led to a 25% decrease in revenues. The company attributed this to regional market fluctuations and high shipping costs and successfully redirected shipments through alternative routes to mitigate the financial impact. Additionally, the General Assembly approved a reduction of the share capital by 77.7% to cover approximately 90.7% of accumulated losses, with 53.4 million SAR transferred from reserves to cover the remaining losses.

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