Tuesday, 27th February 2018

Saudi Cement Company announces the annual financial results for the period ending on 31-12-2017.

1439/06/11 Tue Feb 27, 2018 16:02:52

Net profit (loss) : 453.4 901 -49.68
Earning or loss per share, Riyals : 2.96 5.89
Gross profit (loss) : 568.8 1,030.6 -44.81
Operational profit (loss) : 473.5 932.1 -49.2

All figures are in (Millions) Saudi Arabia, Riyals

Reasons of annual financial results: The reasons for the decrease of current year net profit compared with last year are, decrease in sales, increase in cost of sales per ton of cement sold, as a result of reducing production due to high inventory levels, in addition to decrease in share in net results of associates companies and decrease in other income.
Reclassifications in annual 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 year was SR 1,184.5 Million compared with SR 1,778.1 Million for last year, a decrease of 33.38% .

– Total Comprehensive Income for the current year was 453.3 Million compared with 910 Million for last year, decrease of 50.19%.

– Total Shareholder Equity (no Minority Interest) at end of the current year is SR 2,877.9 Million compared with SR 3,189.6 Million at end of last year, decrease of 9.77%.

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