Riyadh – Mubasher: National Company for Glass Industries (Zoujaj) posted a 78% drop in net profit for the fourth quarter of 2015 to SAR3.5 million, from SAR15.7 million in the same period of the previous year.
FY15 net profit dropped to SAR45 million, against SAR61.5 million in FY14, a 27% decline.
This loss in Q4 is caused by low operating profits due to a halt in furnace no.01 for maintenance.
Meanwhile, the yearly loss is ascribed to low profits of other associates trading in flat glass because of low sale prices.
