Riyadh-Mubasher: Umm Al Qura Cement incurred net losses of SAR 10 million in the fourth quarter of 2015, rising 169% year-on-year from SAR 3.7 million.
The cement producer attributed the rise in Q4 losses mainly to higher general and administrative expenses.
Net losses for the 12-month period declined 14% year-on-year from SAR 28 million to SAR 24 million.
The decline in full-year losses was ascribed by the company to the costs incurred from initial public offering (IPO) in 2014.
