Riyadh – Mubasher: Qassim Cement’s profits retreated 40% in the first quarter of 2017.
The company posted profits of SAR 80.3 million in Q1-17 compared to SAR 133.6 million in the year-ago period.
The decrease in Q1 profits was attributable to lower sales value and volume due to lower demand on cement, despite a decline in zakat expenses, according to a bourse filing on Wednesday.
Total sales fell 30.6% to SAR 191.12 million in Q1 compared to SAR 275.5 million in the same period of the previous year.
