42.8000
Change
-0.2000
Change %
0.4651%
Open
43.0000
Close
42.8500
High
43.1000
Low
42.6000

Arabian Cement logs SAR26 million loss in FY18; board recommends SAR1/share dividend

2019-03-03 08:03:46 GMT (Economies.com)
 

Arabian Cement Company on Sunday announced it turned to losses in the fiscal year 2018, showing SAR 26.2 million, against SAR 262.7 million net profit reported in the same period a year earlier.

 

The company’s FY18 net operating loss amounted to SAR 30 million, compared to SAR 281.5 million net operating profit in 17.

 

The full-year losses were attributed by the company to an decrease in sales value due to lower demand and fierce competition

 

FY18 revenues decreased to SAR 600.7 million, from SAR 905.7 million in the same period a year ago.

 

Meanwhile, the company’s financial results for the first nine months of 2018 showed SAR 42.5 million losses, versus SAR 165.6 million net profit in the corresponding period of 2017.

 

The company’s board of directors recommended the distribution of cash dividends for the fiscal year 2018 at SAR 100 million, or SAR 1 per share.

 
 
 
  Symbol Last Change Chg.%
1.2058
0.0032
0.2698%
1.3878
-0.0075
0.5404%
Tadawul
10127.90
18.31
0.18%
26.062
0.271
1.049%
61.660
-1.518
2.403%
65.77
0.37
0.57%
1784.360
12.910
0.729%
 
 
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