Al Jouf Cement posts SAR 21.5 million profit in 9M 2019
Al Jouf Cement Co. posted SAR 21.5 million profit during the first nine months of 2019, compared to a net loss of SAR 3.1 million during the same period 2018, the company said in a statement to Tadawul.
The company attributed the profit to higher sales volumes, higher sales prices, lower selling cost and a reduction of public, marketing expenses along with an increase of other revenues.
Quarter on quarter, the company said that the net profit posted in Q3 2019 compared to a net loss in Q3 2018, is mainly due to higher selling prices and lower selling cost, along with lower public and marketing expenses.
Meanwhile, compared to second quarter 2019, the profit increase in third quarter 2019 is due to lower selling cost despite lower selling volumes along with higher Zakat expenses.