Riyadh – Mubasher: Saudi Arabia’s Yamama Cement on Thursday reported a 43.2% year-on-year profit decline during the fourth quarter of 2018.
Net profits after calculating Zakat and Tax hit SAR 6.95 million in Q4-18, compared to SAR 12.2 million during Q4-17, according to a statement to the Saudi Stock Exchange (Tadawul).
The firm attributed the fourth-quarter profit decline to a drop in sales’ value, coupled with higher general and administrative and general expenses.
From January to December last year, Yamama Cement turned to losses after suffering SAR 51.84 million, against a profit of SAR 104.38 million in 2017.
