Saudi Cement Company announces the annual financial results for the period ending on 31-12-2017
|Element||Current year||Previous year||% Change|
|Net profit (loss)||453.4||901||-49.68|
|Earning or loss per share, Riyals||2.96||5.89||-|
|Gross profit (loss)||568.8||1,030.6||-44.81|
|Operational profit (loss)||473.5||932.1||-49.2|
|All figures are in (Millions) Saudi Arabia, Riyals|
|Reasons of annual financial results||The reasons for the decrease of current year net profit compared with last year are, decrease in sales, increase in cost of sales per ton of cement sold, as a result of reducing production due to high inventory levels, in addition to decrease in share in net results of associates companies and decrease in other income.|
|Reclassifications in annual financial results||Comparative previous period figures were re-computed and reclassified to comply with current period presentation which was prepared based on IFRS.|
|Other notes||Total sales for current year was SR 1,184.5 Million compared with SR 1,778.1 Million for last year, a decrease of 33.38% .
Total Comprehensive Income for the current year was 453.3 Million compared with 910 Million for last year, decrease of 50.19%.
Total Shareholder Equity ( no Minority Interest) at end of the current year is SR 2,877.9 Million compared with SR 3,189.6 Million at end of last year, decrease of 9.77%.
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