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FINANCIAL NEWS
Saudi’s profits of cement firms decline by 16pct
28 Nov 2016
(MENAFN) Net profits of Saudi listed cement firms fell by 16 percent to SR3.75bn in the Jan-Sep period of this year, compared to SR4.46bn in the same period of 2015.
Additionally, cement firms’ profits of Q3, 2016 dropped by 11.4 percent to SR857mn compared to SR967mn in the same quarter of 2015.
Moreover, the number of listed cement firms reached 14 with their capital standing at SR18.4bn, while their market capitalization reached SR52bn.
However, the firm’s revenues dropped by 6.4 percent compared to the reports of the same period last year, which reached SR764mn.
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