2012-04-09 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: The Riyahd-based market measure Tasi closed off 0.25% Monday at 7,697.7 points. While market breadth ended neutral (67 shares were up, 68 down), possibly indicating a near-end of the current correction phase, market bellwether Sabic (down 0.71%) weighed on the gauge. Shares of Methanol Chemicals Company gained 1.25%. Earlier in the day, Methanol Chemicals announced its net profit during the first quarter amounted to SR25.25m as compared to SR9.65m for the same period of last year which is an increase of 162%. Quarter-on-quarter, the Q1 result represents a slight decrease of 8%. The firm commented in a statement to the Tadawul bourse: "The increase in net profit for the first quarter of 2012 is mainly due to improved sales volume, as well as higher operational efficiencies over the same period of last year."  

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