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FINANCIAL NEWS
Saudi Cement records USD66.35mn net profit
26 Jul 2016
(MENAFN) Saudi Cement recorded a 2 percent decline in second-quarter net profit, due to a drop in sales and increasing power costs.
Additionally, the firm made a net profit in the three months to June 30 of USD66.4mn, down from USD67.68mn in the same period of 2015.
The decline was attributed to a drop in sales, and an increase in the costs due to rising power prices.
Meanwhile, the company proclaimed that it would pay a cash dividend of USD0.73 a share for the first half of this year.
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