Qassim Cement records fall in net profit for 1Q18

Saudi Arabia’s Qassim Cement Co has announced a 28.7 per cent YoY fall in net profit for the 1Q18, decreasing to SAR57.2m (US$15.25m) from SAR80.2m. Total sales of the company dropped 22.6 per cent to SAR147.9m, compared with SAR191.1m of the year-ago period.

Elsewhere, EFG Hermes has forecast that Arabian Cement Co will post a SAR57.6m net profit for the first quarter of 2018. While Eastern Province Cement Co has been predicted to record a SAR32.27m net profit, according to the investment company.