Riyadh – Mubasher: Saudi Cement Co achieved a growth of 6.25% in net profits during the fourth quarter of 2016 as compare to the same period a year ago.
Earnings amounted to SAR 187 million ($49.87 million) in Q4-16 from SAR 176 million ($46.93 million) in Q4-15, according to a bourse filing issued on Tuesday.
Gross profit shrank by 21% to total SAR 221 million in Q4-16 due to lower sales and higher costs.
During the fiscal year of 2016, net profits decreased by 4% to stand at SAR 902 million from SAR 940 million in 2015.
