Riyadh – Mubasher: Najran Cement Company posted its interim financial results for the first six months of 2019.
Net losses after zakat and tax fell by 91.8% to SAR 2.5 million during the second quarter of 2019, compared to SAR 31.7 million in Q2-18, according to the company’s recent statement to the Saudi Stock Exchange (Tadawul).
The company attributed the decrease in losses to higher sales volumes and price, in addition to a decrease in production cost per tonne.
Meanwhile, total revenues jumped by 37.8% to SAR 76.2 million in Q2-19, from SAR 55.3 million in the same period of the prior year.
For the first half of 2019, Najran Cement turned profitable with SAR 3.46 million, against losses of SAR 41.9 million in H1-18.
Revenues of the Saudi firm increased by 19.9% to SAR 182.7 million during the six-month period ended in June, versus SAR 152.3 million in the corresponding period the year before.
