Riyadh – Mubasher: Saudi Arabia’s Yanbu Cement on Thursday reported a 39.4% drop in its profits during the full-year 2017, compared to the prior year.
The firm’s profits stood at SAR 319 million last year versus SAR 526 million in 2016, according to a bourse statement.
The Saudi cement provider attributed the decline in its annual profits to a decrease in sales’ volume, as well as a drop in the average of sale prices.
Yanbu Cement’s profits decreased 7.7% to SAR 96 million in the fourth quarter of 2017, from SAR 104 million during Q4-16.
