Najran 4Q16 profit falls 73%

Najran Cement reported a fall in profits of 72.55 per cent to SAR14.76m (US$3.93m) in 4Q16 from SAR53.73m in 4Q15.

The company attributed the lower profit to reduced sales volumes due to slowing construction activity and an increase in energy prices.

Najran Cement's full-year profits reached SAR124.81m, down 51.2 per cent from SAR255.62m reported in 2015.