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Northern Region Cement’s profit falls 47% in Q1

Northern Region Cement’s profit falls 47% in Q1
Net profits amounted to SAR 40.14 million in Q1-19
NORTHERN CEMENT
3004
-1.96% 9.98 -0.20

Riyadh – Mubasher: Northern Region Cement Company posted a 47% year-on-year drop in its profits for the first quarter of 2019.

Net profits amounted to SAR 40.14 million in Q1-19, compared to SAR 75.85 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul).

Total revenues of the Saudi-based cement producer increased by 36.5% to SAR 113.34 million in Q1-19, from SAR 83.02 million in the same period of the prior year.

Net profits after zakat and tax levelled up 16.4% year-on-year to SAR 15.51 million during the first three months of 2019.

In 2018, Northern Region Cement reported a 75.3% year-on-year profit drop to SAR 13.09 million.