Friday, 20 Apr 2018
Business

Yamamah Cement’s profits fell 53% in the first quarter

Latest Update: Monday, April 30, 1439 – April 16, 2018

Yamamah Cement Company’s profits fell to SR 23.8 million at the end of the first quarter of 2018, a decrease of 53% compared to SR 50.8 million in the same period last year. The company said that the reason for the decline in profits during the current quarter compared to the same quarter of the previous year is due to: Low sales due to lower demand in the local market. 2. Other revenues decreased during the current quarter compared to the same quarter. While the company attributed the reason for the increase in profits during the current quarter compared to the previous quarter to the increase in other revenues during the current quarter compared to the previous quarter in which a provision for doubtful debts amounting to 21 million riyals is a debit balance of the Yemeni Saudi Cement Company. Yamamah Cement Company explained that the comprehensive income during the current quarter amounted to 16 million riyals compared to 16 million riyals for the previous quarter with a change of 0%.

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