35.0000
Change
0.5000
Change %
1.4493%
Open
34.5000
Close
34.6500
High
35.1500
Low
34.4500

Eastern Province Cement Q3 profit slips 35.4% on competition

2018-10-30 09:37:40 GMT (Economies.com)
 

Eastern Province Cement Co. on Tuesday posted a 35.4% decline in net profit for the third quarter ended 30 September, 2018.

 

The company’s Q3 net profit amounted to SAR 9 million, down from SAR 14 million reported in the same period a year earlier.

 

Meanwhile, net operating income fell to SAR 7 million, from SAR 18 million in Q3-17.

 

The profit decline was ascribed to fierce competition in the local market, coupled with a rise in other expenses and a decline in investment income.

 

Net profit for the first nine months of 2018 amounted to SAR 99 million, down 55.5% year-on-year to SAR 44 million.

 
 
 
  Symbol Last Change Chg.%
1.1841
0.0075
0.6357%
1.3094
0.0023
0.1725%
Tadawul
7704.25
49.87
0.65%
26.317
-2.232
7.818%
42.105
0.120
0.286%
44.66
-0.33
0.73%
1945.525
-89.870
4.415%
 
 
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