Riyadh – Mubasher: Al Jouf Cement’s profits fell 20% year-on-year to SAR 14.9 million ($3.97 million) in the third quarter of 2016 from SAR 18.6 million ($4.96 million).
The decline in net profit was attributed to the lower average sales price and higher fuel prices, despite the increase in the quantity of sales and decrease in the general expenses, according to a bourse filing on Tuesday.
The company a 12.4% decrease in net profit to SAR 62.36 million in the nine-month period of 2016 from SAR 71.19 million in the year-ago period.
Total gross sales fell 9.2% to SAR 63.9 million in Q3-16 from SAR 70.4 million in Q3-15, the statement said.
