The financial statements of Arab Cement Company showed an increase in the profits for the first quarter of this year by 21.6% on an annual basis.
According to the results of the company for the Saudi market (Tadawul) today, Sunday, the profits of the period amounted to 45.1 million riyals, compared to profits of 37.1 million riyals for the first quarter of 2019. p>
The company said in a statement to the stock exchange that the increase in profits during the comparison periods is due to an increase in the amount and value of sales and a decrease in the general and administrative expenses of the parent company.
The company also attributed the improvement of profits to the decrease in the subsidiary company’s losses in Jordan as a result of the low cost of sales and general and administrative expenses, despite the increase in selling and distribution expenses and the high losses of associates. < / p>
The company's total sales in the first quarter of this year amounted to 204.6 million riyals, compared to 189.1 million riyals for the same period last year, an increase of 8.2%.
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