Saudi cement companies profits decline to 792 million

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Net profits fell < company «cement» listed its shares on the Saudi stock exchange (Tadawul) during the first quarter of this year to 792 million versus 1.6 billion for the first quarter of 2016 by tumbling 49 percent, the result of declining quantities sold of cement sales prices.
Topped Saudi cement company» corporate winner after achieved net profits for the first quarter amounted to 165 million, compared with 263 million for the same period from 2016, down 37 percent percent, against 187 million for the previous quarter, tumbling 12 percent, retreated with her real 1.08 EPS versus 1.72 for first quarter 2016.
A total of 191 million profit versus 295 million by tumbling 35 percent, versus 221 million for the last quarter of 2016 by tumbling 14 percent, operating profit reached 168 million for 271 million by declining 38 percent, versus 195 million for the last quarter of 2016 by tumbling 14 percent.
The company attributed the decline in net profit to decrease the quantity and value of sales, due to low domestic demand for cement.
Yanbu cement company came in second place with earnings of $124 million compared to 171 million for the first quarter of 2016 by tumbling 27 percent, versus 105 million riyals for the previous quarter by rising 18 percent, returned the company to decrease during the current quarter, compared with the same quarter of the previous year to lower demand and intense competition, despite the existence of unrealized gains in the market value of derivatives at the end of the current quarter and unrealized losses in the market value of derivatives At the end of the same quarter of the previous year, while higher profits in the first quarter compared with the previous quarter to carry the previous quarter cost of early settlement program (Golden check).
And declining gross profit to 132 million riyals in Exchange for 200 million for the first quarter of 2016 by tumbling 34 percent, versus 136 million for the previous quarter dipped 3 percent, while operating profit fell to 123 million versus 189 million for the first quarter of last year by falling 35 percent, in Exchange for 126 million by slipped 2.4 percent, with earnings per share to 0.79 reais versus 1.09 reais.
A cement company town, net profits for the first quarter of this year amounted to 38 million versus 73.3 million for the same period from 2016, down 48 percent percent, versus 45 million for the previous quarter by tumbling 16 percent, with earnings per share to 20 39 Halas Halas versus the first quarter of 2016.
Gross profit amounted to 47 million versus 84 million by tumbling 44 percent, against 54 million for the last quarter of 2016 by tumbling 13 percent, and operating profit of 40 million versus 77 million by declining 48 percent, versus 48 million for last quarter of 2016 by tumbling 17 percent.
The company reaffirmed its current quarter decline compared with the same quarter of the previous year of falling sales and rising cost of sales and selling expenses, despite high returns on equity and change in fair value gains, with an increase in other income besides low Zakat discretion and a slight decrease in General and administrative expenses.
Cement company or villages, the net profit for the first quarter of this year, 17 million versus a loss of $3.7 million for the same period from 2016, versus profit of 1.4 million for the previous quarter by rising 1124 percent, with EPS 31 Halas versus losing 7 Halas for the first quarter of 2016.
Total profit of 24 million riyals in Exchange for 12 million for last quarter of 2016, an increase of 110 percent, and operating profit of 22 million for 7.7 million for the last quarter of 2016 by rising 186 percent.
And the company has restored due to the decrease in net loss and achieve company net profit in the current quarter for the year 2017 as compared with the same quarter last year to start a company commercial production and sales, in addition to General and administrative expenses decreased during the current quarter compared with the same quarter of the previous year, the company had deferred fire for Saudi Industrial Development Fund loan and financing costs on the current quarter income statement of the year 2017. Net profit fell to Najran cement company for the first quarter to 11.2 million versus 61.3 million for the same period from 2016, down 82 percent percent, compared to 15 million for the previous quarter, tumbling 25 percent, retreated with EPS 7 halalas versus 36 Halas Q1 2016.
The total profit of 28 million riyals in Exchange for 85 million by declining 67.6 percent, versus 33 million for the last quarter of 2016 by tumbling 16 percent, and operating profit 17.4 million versus 72 million by slipped 76 percent, versus 22 million for the last quarter of 2016 by tumbling 21 percent.
The company attributed the decline in net profit to lower average selling price and lower sales volumes due to lower demand for cement for construction activities slowed, rising production costs for low energy despite operating low sales and distribution expenses and pocket money of Zakat and higher other income.

44 billion in the market value of companies «cement»
< Total number of companies listed their shares in the stock market from the of 14 stock company, whose market value has risen by market close last weekend to 44.2 billion versus 44.3 billion for the previous week by slipped 0.30 percent, cement companies constitute 3 percent of the market, while the cement companies capital 18.4 billion.
Yamamah cement company is the largest private sector companies with a capital of 2.025 billion riyals, then capital city cement 1.892 billion, followed by the northern region cement company with a capital of 1.8 billion, then the capital of Najran cement 1.7 billion reais, or cement her villages come less capital which is 550 million.

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