Sunday, 30th July 2017

Saudi Cement Company announces the interim financial results for the period ending on 30-06-2017 (Six Months).


1438/11/07 Sun July 30, 2017 08:06:18

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) : 94 249 -62.25 165 -43.03
Gross profit (loss) : 121 282 -57.09 191 -36.65
Operational profit (loss) : 99 257 -61.48 168 -41.07

All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss): 259 512 -49.41
Gross profit (loss): 312 578 -46.02
Operational profit (loss): 267 529 -49.53
Earning or loss per share, Riyals: 1.69 3.35

All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year: The reason of decrease in net profit is due to the decrease in sales quantities and value as a result of decrease in local demand on cement, decrease in share in net results of associates companies and decrease in other income.
Reasons of increase (decrease) for period compared with same period last year: The reason of decrease in net profit is due to the decrease in sales quantities and value as a result of decrease in local demand on cement.
Reasons of increase (decrease) for quarter compared with previous quarter: The reason of decrease in net profit is due to the decrease in sales quantities and value as a result of decrease in local demand on cement, decrease in other income and increase in Islamic financial charges.
Reclassifications in quarterly financial results: Comparative previous period figures were re-computed and reclassified to comply with current period presentation which was prepared based on IFRS.
Other notes : – Total sales for current quarter was SR 269.5 Million compared with SR 498.8 Million for the same quarter of last year, a decrease of 46%.Total sales for current period was SR 615.8 Million compared with SR 1,005.7 Million for the same period of last year, a decrease of 38.8% .

– Total Comprehensive Income for the current quarter was 94 Million compared with 249 Million for the same quarter of last year, decrease of 62.25% and compared with last quarter comprehensive income of SR 165 Million, decrease of 43.03%.

– Total Comprehensive Income for the current period was 259 Million compared with 512 Million for the same period of last year, decrease of 49.41%. Total Shareholder Equity ( no Minority Interest) for current period is SR 2,683 Million compared with SR 2,792 Million for the same period of last year, decrease of 3.9%.

Click here to review the announcement in Tadawul’s Website.

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