Riyadh – Mubasher: City Cement Co’s profits retreated 48.34% year-on-year in the first quarter of 2017.
Net profits amounted to SAR 37.87 million ($10.08 million) in Q1-17 compared to SAR 73.31 million ($19.52 million) in Q1-16.
The fall in profits was attributed to a decline in sales, and a rise in costs and selling expenses, according to a bourse filing on Sunday.
Sales reached SAR 167.3 million, down 7.2% from SAR 180.36 million in the same period of the previous year.
