49.6000
Change
-0.4000
Change %
0.8000%
Open
50.0000
Close
49.9000
High
50.0000
Low
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.

 
 
 
  Symbol Last Change Chg.%
1.2057
0.0031
0.2565%
1.3870
-0.0083
0.5916%
Tadawul
10127.90
18.31
0.18%
26.070
0.278
1.078%
61.470
-1.708
2.704%
65.61
0.21
0.32%
1784.945
13.495
0.762%
 
 
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