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Saudi Ceramic’s loss halves in Q1

Saudi Ceramic’s loss halves in Q1
The company’s loss went down to SAR 25 million
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Riyadh – Mubasher: Saudi Ceramic Co. has reported a 50% year-on-year loss decline during the first quarter of 2019.

The company’s loss went down to SAR 25 million in Q1-19 from SAR 50 million in the year-ago period, according to a bourse statement released on Thursday.

The decline in the Tadawul-listed firm’s loss stemmed from the increase in revenue, which resulted from the sales mix and the efficiency of costs.

Saudi Ceramic reported a 127.3% year-on-year increase in losses during the full-year 2018, recording SAR 220.6 million.