List of content
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.
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1.3094
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Tadawul
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49.87
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0.65%
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26.317
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42.105
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44.66
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1945.525
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4.415%
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