Najran Cement swings to SAR 18 mln profit in 9M 2019
Najran Cement Co. posted a net profit after zakat and tax of SAR 17.6 million for the first nine months of 2019, versus a net loss of SAR 65.6 million a year earlier, driven by higher sales volumes and selling prices, the company said in a bourse statement on Sunday.
The results were also driven by a steep decline in production costs per ton.
In Q3 2019, the Saudi cement producer turned to a net profit after zakat and tax of SAR 14 million, against a net loss of SAR 23.7 million in year earlier period also due to higher sales volumes and improved selling prices.
The company turned profitable from a net loss of SAR 2.6 million in the previous quarter.