Riyadh – Mubasher: Saudi Cement Company’s net profits fell 3.85% year-on-year to SAR 200 million ($53.3 million) in the third quarter of 2016 from SAR 208 million ($55.46 million).
The decrease in the company’s Q3 profits is attributed to lower sales and higher in selling and distribution expenses and other income, according to a bourse filing on Tuesday.
The company’s profits decreased 6.4% to SAR 715 million in the first nine months of 2016 from SAR 764 million in the year-ago period.
Total sales lost 5.8% to SAR 375 million in Q3-16 compared to SAR 398 million in the same quarter of 2015.
