Qatar National Cement Company Net Profit Falls to QR218.8 Million in Q3 2018

October 18, 2018

Qatar National Cement Company (QNCC) net profit amounted to QR218.8 million, compared to QR242.8 million for the same period last year, while the company’s earnings per share reached QR3.35, versus QR3.72 for the corresponding period of 2017.

The Group’s Comments:

QNCC revenues decreased by 19.3% to QR633 million in the nine months ended 30/9/2018, whereas production cost decreased by 21.5% to QR425.7 million. This resulted in the decrease of the total operating profit by 14.4% to QR207.3 million. In contrast, general expenses decreased by 15.6% to QR23 million, and after adding another income of QR34.1 million, the net profit until end of the third quarter decreased by 9.8% to QR218.8 million. It should be noted that there was a positive change in the fair value, resulting in the increase of the comprehensive income to QR226.6 million compared to QR200.9 million in the corresponding period of 2017.