Riyadh – Mubasher: Yamama Cement on Wednesday posted a net profit of SAR 150.4 million ($40.1 million) in Q1-16, down 14% from SAR 175.4 million ($46.77 million) recorded in the same period the year before.
The decline in profits was due a rise in cost of sold items due to an increase in fuel prices added to overuse of fixed assets, as well as a slight rise in general and administrative expenses and growing losses from the investment portfolio, the cement firm said in a bourse filing.
