Saudi Chemical Company (Saudi Chemical) [2230.SE] has announced its 3Q16 financial results, showing net profit of SAR20.23mn (-43.41% Y-o-Y, -57.58% Q-o-Q). Gross profit came in at SAR76.81mn (-10.42% Y-o-Y, -33.76% Q-o-Q), while operating profit reached SAR30.93mn (-25.45% Y-o-Y, -48.94% Q-o-Q). Revenues for 3Q16 were SAR444.97mn (-9.13% Y-o-Y). The company’s management attributed the decrease in profits to the following: i) lower sales; ii) expenses booked by one of the company’s plants in the pre-operational stage; and iii) Increase in finance charges. (Tadawul)