Riyadh – Mubasher: Umm Al Qura Cement’s losses fell 42.88% year-on-year to SAR 4.35 million ($1.16 million) in the second quarter of 2016 from SAR 7.6 million ($2.03 million), according to a bourse filing.
Lower foreign currency exchange losses led to the decrease in Q2-16 net losses, despite higher general and administrative expenses.
The company posted around SAR 8 million losses in H1-16, down 35% from SAR 12.3 million in the same period of the previous year.
