Riyadh – Mubasher: Yamama Cement on Wednesday has said it turned to loss during the third quarter of 2018, against posting a profit in the year-ago period.

The company incurred a net loss of SAR 46.38 million during Q3-18, against a net profit of SAR 29.15 million in Q3-17, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Yamama Cement attributed the third-quarter losses to a decrease in sales value, coupled with a decline in other revenues.

During the first nine months of 2018, the Saudi cement provider suffered SAR 58.79 million in losses, against a profit of SAR 92.14 million in the corresponding period a year earlier.

Yamama Cement’s stock fell 2.01% to finish Tuesday’s trading session at SAR 12.66.