Qassim Cement Co. — Earnings Release 2018

Apr 19, 2018

THE QASSIM CEMENT CO ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-03-2018 (THREE MONTHS)

3040 · 19/04/2018 08:01:38 · Announcement #50295 · View on Saudi Exchange

THE QASSIM CEMENT CO ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-03-2018 (THREE MONTHS)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	57,175,776	80,159,235	-	67,191,544	-
Gross profit (loss)	62,635,103	88,179,392	-	75,728,019	-
Operational profit (loss)	54,592,916	80,933,681	-	67,665,729	-
Earning or loss per share, Riyals	0.64	0.89	-	-	-
All figures are in Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Decrease in net income for current quarter compared with same quarter last year due to decline in sales volume and value driven by lower demand of cement and decline in average selling price, in addition to increase in cost of goods sold, General & admin expenses and selling & marketing expenses, despite increase in other income and decline in zakat expense.
Reasons of increase (decrease) for period compared with same period last year	Decrease in net income for current quarter compared with same quarter last year due to decline in sales volume and value driven by lower demand of cement and decline in average selling price, in addition to increase in cost of goods sold, General & admin expenses and selling & marketing expenses, despite increase in other income and decline in zakat expense.
Reasons of increase (decrease) for quarter compared with previous quarter	Decrease in net income for current quarter compared with last quarter due to decline in sales value and volume driven by lower demand of cement and decline in average selling price, in addition to increase in cost of goods sold and selling & marketing expenses, despite increase in other income and decline in zakat expense.
Other notes	A) Total sales during the current quarter amounted SAR 147,909,707 compared to SAR 191,121,760 for the corresponding quarter of the previous year, in a decrease of 22.61%. and compared to SAR 168,979,235 for the previous quarter, in a decrease of 12.47%.

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