Saudi Arabia: Qassim Cement’s sales fell by 32% year-on-year to US$114m in 2018 from US$167m in the same period in 2017. Its profit decreased by 49% to US$37.4m from US$73m. It blamed the fall in sales and profits on lower cement demand and lower prices due to competition.
Lower cement demand reduces Qassim Cement sales in 2018
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