Saudi Arabia’s Eastern Province Cement Co has reported a 34.6 per cent YoY profit decline after zakat and tax, falling to SAR70m (US$18.66m) from SAR107m of 2017.
The company attributed the decrease to a drop in sales of cement, precast concrete and higher zakat provisions, according to a statement to the country’s stock exchange.
In the 4Q18 profit surged 225 per cent YoY to SAR26m, compared to SAR8m of the previous year.
Malayan Cement FY26 net profit rises 34%
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