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

Arabian Cement Q3 profit slides on lower sales

2018-11-06 11:58:27 GMT (Economies.com)
 

Arabian Cement Co. on Tuesday posted financial results for the third quarter of 2018, showing a decline by 51.2% in net profit to SAR 14.4 million, from SAR 29.5 million net profit in the same period a year ago.

 

The cement producer generated SAR 25.9 million net operating income, down from SAR 43 million in Q3-17.

 

The profit decline seen in the third quarter was attributed to a decrease in the volume of sales due to a fall in sale prices in the subsidiary and parent company, as well as a decline in sales volume for the parent company due to lower demand and fierce competition, in addition to a rise in customs.

 

Q3-18 revenues declined to SAR 117.9 million, from SAR 163 million in the year-ago period.

 

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.

 

H1-18 financial results had shown SAR 57 million, against SAR 136.2 million net profit in H1-17.

 
 
 
  Symbol Last Change Chg.%
1.2059
0.0033
0.2777%
1.3878
-0.0075
0.5368%
Tadawul
10127.90
18.31
0.18%
26.041
0.249
0.967%
61.631
-1.547
2.449%
65.61
0.23
0.35%
1783.560
12.110
0.684%
 
 
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