Yamama Cement announces 53% profit fall in the 1Q18

Saudi Arabia-based Yamama Cement Co has announced a 53 per cent YoY fall in profit to SAR23.8m (US$6.35m) in the 1Q18.

The producer attributed the decrease in profit to a drop in demand and a decline in other revenues, according to its statement to the Saudi Stock Exchange.

However, Yamama Cement’s profit was a 40.7 per cent increase upon the result of the previous quarter.