Saudi Chemicals has released its 4Q16 financial results, showing net profit of SAR29.82mn (+47.4% Q-o-Q, -48.48% Y-o-Y). Gross profit was reported at SAR91.6mn (+19.26% Q-o-Q, -29.69% Y-o-Y), while operating profit reached SAR44.12mn (+42.64% Q-o-Q, -33.97% Y-o-Y). Revenues fell 17% Y-o-Y to SAR503mn. The company attributed the Y-o-Y decline in performance to the: i) decline in sales volumes; and ii) increase in financing expenses. The company also mentioned that the Q-o-Q performance was better due to base effect, as the company did not sell explosives in Eid Al Fitr and Hajj season in 3Q16. (Tadawul)