Tuesday, 17th January 2017

Saudi Cement Company announces the interim financial results for the period ending on 31-12-2016 (Twelve Months).

1438/04/19 17/01/2017 08:34:52

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 187 176 6.25 200 -6.5
Gross profit (loss) 221 280 -21.07 230 -3.91
Operational profit (loss) 195 185 5.41 207 -5.8


Element Current period Similar period for previous year % Change
Net profit (loss) 902 940 -4.04
Gross profit (loss) 1,029 1,136 -9.42
Operational profit (loss) 933 964 -3.22
Earning or loss per share, Riyals 5.89 6.15

All figures are in (Millions) Saudi Arabia, Riyals


Reasons of increase (decrease) for quarter compared with same quarter last year : The Increase in Net Profit and the operational profit was due to the impact of the impairment loss of Kilns 4 and 5 at Hofuf Plant which was effected in the last year quarter and also with decrease of share in net results of associated companies. The decrease in Gross Profit was due to decrease in sales and increase in cost of sales as a result of increase in power prices.
Reasons of increase (decrease) for period compared with same period last year : Decrease in sales, increase in Cost of sales due to increase in Power Prices, Decrease in other Income and increase in Islamic Financing Charges.
Reasons of increase (decrease) for quarter compared with previous quarter : Increase in Cost of sales, increase in general and administration expenses, increase in Islamic Financing Charges and Decrease in other Income.
Reclassifications in quarterly financial results : Certain of the prior period amounts have been reclassified to conform with the presentation in the current period.
Other notes : Total sales for current quarter was SR 397 Million compared with SR 484 Million for the same last year quarter, a decrease of 18%.Total sales for the current period was SR 1778 Million compared with SR 1932 Million for the same last year period, a decrease of 8%. Total Shareholder Equity ( no Minority Interest) for current period was SR 3275 Million compared with SR 3256 Million for the same last year period, increase of 0.60%.