Riyadh – Mubasher: Hail Cement Company reported its interim financial results for the second quarter of 2019.
Net losses after zakat and tax fell by 89.3% to SAR 1.9 million in Q2-19, compared to SAR 17.9 million in Q2-18, according to the company’s recent statement to the Saudi Stock Exchange (Tadawul).
The company attributed the drop in losses to the increase in revenues and better selling prices.
Total revenues of the Saudi-based firm grew by 29.4% to SAR 53.4 million during the three-month period between April and June, from SAR 41.26 million in the same period of the prior year.
For the first six months of 2019, Hail Cement turned profitable with SAR 20.62 million, against losses of SAR 13.7 million in H1-18.
The company’s revenues rose by 35.5% year-on-year to SAR 121.9 million by the end of June.
Profit per share recorded SAR 0.21 in H1-19, versus a loss per share of SAR 0.14 in the same period a year ago.
