Yamama Cement profit halves in 4Q17

Saudi Arabia’s Yamama Cement saw its net profits slide 51.3 per cent YoY in the 4Q17 to SAR16.9m (US$4.5m) from SAR34.8m.

The company attributed the fall in profits to the drop in sales on the back of a contracting domestic market and to the rise in the allocated amount for Zakat by SAR5.7m.

For the full year 2017, profits declined 69.5 per cent to SAR109.9m, from SAR357.9m in 2016.