Riyadh – Mubasher: Hail Cement Company posted a 11.74% decline in net profit for the first quarter of the fiscal year 2016, according to a bourse filing posted Sunday.
The cement firm generated SAR 33 million ($8.8 million) net profit, down from SAR 37.5 million ($10 million) in the prior-year period.
The profit decline was ascribed by the company to a rise in cost of sales due to market volatility.
