Saudi Cement Co. — Earnings Release 2017

Feb 27, 2018

Saudi Cement Company announces the annual financial results for the period ending on 31-12-2017

3030 · 27/02/2018 16:02:52 · Announcement #49556 · View on Saudi Exchange

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

Element	EXPLAINATION
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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