Riyadh – Mubasher: Saudi Cement Company’s net profits fell 1.97% year-on-year to SAR 249 million ($66.42 million) in the second quarter of 2016 from SAR 254 million ($67.76 million).
The decrease in the company’s Q2 profits is attributed to lower sales and other income, added to the increase in sales’ cost, due to the rise in energy prices, according to a bourse filing.
The Saudi-listed company’s profits were down 7.72% to SAR 514 million in the first six months of 2016 from SAR 556 million in the same period of the previous year.
