National Cement Profits in Q3, 2017 Drop 31% to QR
242.8 Million
The Earnings per
Share (EPS) amounted to QR 3.72
October 18,
2017
Qatar National Cement Co. disclosed
the interim financial statement for the period ended 30/9/2017.
The statements show that the net profit is QR 242.80 Million
compared to net profit amounting to QR 355.48 Million for the
same period of the previous year.
The Earnings
per Share (EPS) amounted to QR 3.72 for the period ended
September 30, 2017 to (EPS) amounted to QR 5.44 for the same
period of the previous year.
The Group Securities Comment:
Qatar National Cement Company
sales declined by 6.5% to QR 784.2 Million in 9 months, and
production increased by 8.9% to QR 542 Million. Total operating
profit declined 29% to QR 242.2 Million during the period. After
adding another QR 30.7 Million and offering various types of
expenses of QR 30 Million, net profit decreased by 31.7 % to QR
242.8 Million. There was a change in the fair value of QR 41.9
Million, while total income decreased to QR 200.9 Million
compared to QR 353 Million in the corresponding period last
year.
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