Riyadh – Mubasher: Saudi Ceramics Company posted the financial results for the period ended 31 December, 2015, showing that Q4-15 net profit dropped to SAR55.67 million from SAR59.82 million in Q4-14, down 6.94%.
The twelve-month net profit declined 8.5% to SAR283.84 million, versus SAR310.22 million a year earlier.
The company attributed the fall in Q4 profits to low revenues, high expenses of sale and marketing, and the increase of financing cost as well as Zakat expenses. Moreover, operating profits increased by 13.6%.
Meanwhile, the decline in FY15 net profit was ascribed to other revenues’ decline and to an increase in the expenses of sale, marketing, and Zakat. In addition, the twelve-month operating profits jumped by 6.8%.
