Riyadh – Mubasher: Eastern Province Cement Co. “Al-Sharqiya” (EPPCO) posted a 35.82% year-on-year decline during the third quarter of 2016, according to a bourse statement.
Net profits reached SAR 43 million in Q3-16, compared to SAR 67 million in Q3-15.
The year-on-year fall in Q3-16 profits are mainly attributed to a decline in cement sales on lower local demand, in addition to a rise in production costs, and selling and distribution expenses.
The company generated net profits of SAR 180 million in the first nine months of 2016, a 26.23% decrease from SAR 244 million in the same period of 2015.
