Monday, 23rd October 2017

Saudi Cement Company. announces the interim financial results for the period ending on 30-09-2017 (Nine Months).


1439/02/03 Mon Oct. 23, 2017 08:27:40

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) : 87 202 -56.93 94 -7.45
Gross profit (loss) : 116 232 -50 121 -4.13
Operational profit (loss) : 94 209 -55.02 99 -5.05

All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss): 346 714 -51.54
Gross profit (loss): 428 810 -47.16
Operational profit (loss): 361 737 -51.02
Earning or loss per share, Riyals: 2.26 4.67

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, 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 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, 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 and decrease in other income.
Reasons of increase (decrease) for quarter compared with previous quarter: The reason of decrease in net profit is due to the decrease in sales, increase in Islamic Financial charges, and decrease in share in net results of associates.
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 : – The sales for current quarter was SR 250.2 Million compared with SR 375.1 Million for the same quarter of last year, a decrease of 33.3%. The sales for current period was SR 866 Million compared with SR 1,380.8 Million for the same period of last year, a decrease of 37.3% .

– Total Comprehensive Income for the current quarter was 87 Million compared with 202 Million for the same quarter of last year, decrease of 56.93% and compared with last quarter comprehensive income of SR 94 Million, decrease of 7.45%. Total Comprehensive Income for the current period was 346 Million compared with 714 Million for the same period of last year, decrease of 51.54%.

– Total Shareholder Equity (No Minority Interest) for current period is SR 2,771 Million compared with SR 2,994 Million for the same period of last year, decrease of 7.4%.

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