Riyadh – Mubasher: Najran Cement Company announced on Sunday its financial results for the fourth quarter of 2015, showing a 16% decline in net profit to SAR 54 million, from SAR 64 million in the prior-year period.
Meanwhile, net profit for FY15 rose by 5% year-on-year to SAR 256 million, from SAR 243 million.
The decline in net profit for the fourth quarter was attributed to the rise in imported clinker, coupled with an increase in sales and distribution expenses.
However, the rise in FY15 net income was boosted by an increase in sales revenues.
