Riyadh – Mubasher: Al Jouf Cement’s profits retreated 34.1% in the first quarter of 2017.
Net profits reached SAR 16.29 million in Q1-17, compared to SAR 24.72 million in the year-ago period.
The decline in net profits was attributed to lower demand and fierce competition, in addition to a decrease in other revenues despite a fall in general, marketing, and zakat expenses, according to a bourse filing on Thursday.
Total sales fell 11.6% to SAR 80.3 million compared to SAR 90.8 million in the same period of the previous year.
