Saudi Ceramic Company announced that it recorded annual losses of 220.6 million riyals last year, compared to losses in 2017 of 97.05 million riyals, an increase of losses by 127.3%. p>

The company said in a statement to the Saudi market today, Wednesday, that the operating losses in the last year amounted to 160.41 million riyals, up 154.7% from its counterpart in 2017, which amounted to 62.99 Million riyals.

The company explained that the losses are due to lower sales revenue due to lower prices, lower demand, and dumping of Chinese and Indian products.

The losses were attributed to the increase in the cost of sales as a result of an increase in the quantities of tile products with a decrease in prices, and the increase in the cost of raw materials during the year, in addition to the increase in expenses of various kinds. < / p>

The company achieved revenues in the past year by about 1.03 billion riyals, a decrease of 9.8% from its level in 2017, where the revenues of that year amounted to 1.14 billion riyals

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