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.