Riyadh – Mubasher: Najran Cement Company reported a 81.7% year-on-year decline in its profits during the first quarter of 2017, according to a bourse filing.
Profits reached SAR 11.22 million in Q1-17, compared to SAR 61.34 million in Q1-16.
Net revenues fell 50.4% to SAR 111.4 million in Q1-17, compared to SAR 224.4 million in Q1-16.
The company’s Q1-17 results were weighed down by lower selling prices, and decreased sales volumes due to lower demand and the slowdown in construction activities in Saudi Arabia.
