MPHC reports net profit of QR909m in H1

Mesaieed Petrochemical Holding Company (MPHC or the Group; QE ticker: MPHC), announced yesterday a net profit of QR909m for the six-month period ended 30 June 2021, representing an increase of 573% compared to the same period last year.

Commenting on the financial and operational performance for H1-21, Ahmad Saif Al Sulaiti, Chairman of the Board of Directors, MPHC, said “The main highlight of MPHC’s performance was a sequential macroeconomic recovery which led to a solid demand relating to basket of our products coupled with supply constraints, and resulted in an improved set of financial results. While macroeconomic sentiments remained positive, we continued to capitalize on our robust business strategies and operational excellence. Going forward, we would continue to focus on productivity and efficiency gains while selectively invest in capital projects that would increase our competitiveness and create shareholder value.”