Hail Cement posts SAR 28 mln net profit in 9M 2019
Hail Cement Co. posted a net profit after Zakat and tax of SAR 28.2 million for the first nine months of 2019, as compared to a net loss of SAR 32.1 million during the same period in 2018, the company said in a statement to Tadawul.
The company attributed the higher profits to the increase in revenue.
Hail Cement also posted a net profit of SAR 7.59 million in the third quarter of 2019 as compared to a net loss of SAR 18.3 million in Q3 2018 on higher revenues.
On a sequential basis, the company widened its net losses.