10 Hrs
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الاقتصادية
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Source: الاقتصادية
10 Hrsالاقتصادية
Source: الاقتصادية
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Sipchem’s revenue jumped 67% quarter on quarter to SAR 1.44 billion, driven by a 156% increase in sales volumes, partly reflecting the drawdown of previously held inventory. However, cost of revenue rose by about SAR 577 million to SAR 1.46 billion, exceeding sales and keeping the company in loss-making territory. The gross loss was SAR 28.9 million, while the company posted a net loss of SAR 402 million, down 32% from the previous quarter. Much of the improvement was due to a reduction in the provision for its investment in an associate, from SAR 328 million to SAR 171 million. In the first nine months of 2026, accumulated losses rose 173% to SAR 1.21 billion, while revenue fell 33% to SAR 3.52 billion.
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