Riyadh – Mubasher: Eastern Province Cement Co.’s “Al-Sharqiya” (EPPCO) net profits retreated 46.24% year-on-year to SAR 50 million ($13.33 million) in the second quarter of 2016 from SAR 93 million ($24 million).
The net profit decrease was attributed to lower operating profit, adding to lower sales, due to the decrease in local demand, and higher production costs, according to a bourse filing on Wednesday.
The Saudi-listed company’s profits also fell 23.03% to SAR 137 million in the first six months of 2016 from SAR 178 million in the same period of the previous year.
