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FINANCIAL NEWS
Saudi Hail Cement’s net loss grows by 36% in Q2
17 Jul 2012
(MENAFN) Hail Cement Company stated that it incurred a USD2.29 million net loss in the second quarter of the current year, up by 36 percent from the USD1.68 million loss posted in the first quarter, according to a statement on Saudi Tadawul.
The company attributed the loss to the pre-operating stage it’s going through, with operations due to begin in next year’s first quarter.
Hail Cement added that for the January-June period, net loss was USD3.97 million.
It is worth noting that the company didn’t provide comparative figures for 2011.
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