Riyadh – Mubasher: Arabian Cement Company posted on Monday a net profit of SAR 142.8 million ($38 million) for the second half of fiscal 2016, falling 11.8% from SAR 161.9 million ($43.2 million) posted for Q2-15.
The drop was attributed to a 18.6% decrease in sales in Q2-16, reaching SAR 363.3 million compared to SAR 446.6 million in Q2-15.
Finance charges declined by SAR 3.7 million year-on-year, selling and distribution expenses also fell by SAR 1.8 million y-o-y and Zakat and income tax expenses dropped by SAR 2 million y-o-y.
In the first half of 2016, net profit grew by 3.13% to SAR 368.4 million, versus SAR 357.2 million in the same period of 2015.
