Riyadh-Mubasher: Yamama Cement Co. on Thursday posted a net of SAR 116.3 million ($31 million) in the second quarter of 2016, down 39.27% year-on-year from SAR 131.48 million ($51.06 million).
The decline was due to higher cost of sales due to increases in fuel prices as well as those of fixed assets.
In its statement to Tadawul, the cement company said its profits were down 22.7% quarter-on-quarter.
At the level of H1-16, Yamama reported SAR 266.75 million profits, registering a decline of 27.3% from SAR 366.89 million in H1-15.
