Nama Chemicals Company (Nama) [2210.SE] has announced its 3Q16 financial results, showing a net loss of SAR32.62mn compared to a net loss of SAR23.96mn in 3Q15. At the gross profit level, the company reported a loss of SAR13.56mn relative to a loss of SAR11.98mn in 3Q15, while operating losses came in at SAR31.88mn compared to an operating loss of SAR11.98mn in 3Q15. The company added that revenues for 3Q16 were SAR96.67mn (-12% Y-o-Y). The company’s management attributed the net loss to the: i) decline in product prices by 22% Y-o-Y; ii) increase in selling and marketing costs; iii) increase in energy prices; iv) decrease in the value of AFS securities; and v) increase in murabaha expenses. The company also mentioned that the decrease in feedstock prices did not offset the other factors that contributed to the loss. The company added that there was a decrease in the value of its PP&E, which could require impairment, and that the company is still estimating the impairment value. (Tadawul)