List of content
49.6000
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-0.4000
Change %
0.8000%
Open
50.0000
Close
49.9000
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50.0000
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49.6000
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.
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1.2057
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0.0031
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0.2565%
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1.3870
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-0.0083
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0.5916%
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Tadawul
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10127.90
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18.31
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0.18%
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26.070
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0.278
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1.078%
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61.470
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-1.708
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2.704%
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65.61
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0.21
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0.32%
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1784.945
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13.495
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0.762%
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