Yamama Cement posts 3Q18 loss

Yamama Cement Co reported a drop in revenues in the first nine months of the year to SAR107.7m (US$28.7m) from SAR164.2m in 3Q17. The fall in sales was attributed to the steep price decline in the Saudi market.

The 3Q results also showed a SAR46.4m net loss after zakat and tax. In 3Q17 the company reported a SAR29.2m net profit, according to Reuters.