Nama Chemicals Company (NAMA) [2210.SE] announced its 2Q16 financial results, showing a net loss of SAR33.15mn compared to net profit of SAR6.45mn in 2Q15 and a net loss of SAR23.65mn in 1Q16 . The company incurred a gross loss of SAR11.72mn compared to a gross profit of SAR9.06mn in 2Q15 and a gross loss of SAR6.95mn in 1Q16, while operating loss was SAR32.7mn compared to operational losses of SAR9.01mn and SAR25.77mn in 2Q15 and 1Q16, respectively. Management attributed the Y-o-Y increase in net loss to the decrease in average price of finished products by 30%, increase in SG&A, in addition to debt settlement. Nama also noted that the Y-o-Y decline in investment income was because that they did not sell their AFS securities. The company also attributed the Q-o-Q increase in net loss to the decrease in finished product prices by 6% , higher SG&A. The Q-o-Q decrease in other income was incurred because the company did not account for FX gains and  insurance compensation. (Tadawul)