Sadara Chemical narrows H1 losses by 61%

Sadara Basic Services Co. said its parent company, Sadara Chemical, trimmed net losses by 61.29 percent year-on-year (YoY) to SAR 1.16 billion in the first six months of 2018, as the chemicals segment reported higher sales. 

The company narrowed Q2 losses by 59.33 percent YoY to SAR 646.25 million, thanks to higher volumes of chemicals segment.

On a sequential basis, Q2 net losses widened by 26.69 percent, driven by lower volumes.