83.6000
Change
0.6000
Change %
0.7229%
Open
83.0000
Close
83.6000
High
83.7000
Low
83.0000

Qassim Cement FY18 profit slips 52% on lower sales

2019-01-29 07:56:24 GMT (Economies.com)
 

Qassim Cement Co. on Tuesday posted financial results for the fiscal year 2018, showing that net profit fell by 52% year-on-year to SAR 120.8 million, from SAR 25.8 million in 2017, , according to the company’s filing to Tadawul.

 

The profit decline was ascribed by the company to a decrease in the volume and value of sales due to lower demand for cement and a decrease in average sale price, in addition to a rise in average cost per ton and a rise in Zakat expenses, despite the rise in other revenues.

 

The company said earlier it generated SAR 5.7 million net profit in the third quarter of 2018, down 88.9% compared with SAR 51.2 million in the same period a year ago.

 

Meanwhile, net profit for the first nine months of 2018 showed SAR 81.2 million, a fall by 56% year-on-year from SAR 184.6 million.

 
 
 
  Symbol Last Change Chg.%
1.1733
0.0019
0.1584%
1.3721
0.0045
0.3316%
Tadawul
11270.57
-40.58
0.36%
22.697
0.396
1.776%
73.541
2.608
3.677%
77.56
0.31
0.40%
1753.285
-3.520
0.200%
 
 
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