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News City Cement’s grows net profit in 2018

City Cement’s grows net profit in 2018

Written by Global Cement staff 04 March 2019
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Saudi Arabia: City Cement’s net profit after Zakat and tax grew by 19% year-on-year to US$29.6m in 2018 from US$24.9m in 2017. It attributed the result to operational efficiency and a settlement it reached in late 2018 with China’s Sinoma International about the construction of a second production line. The cement producer’s sales fell by 36% to US$92m from US$143m due to low demand for cement and local competition.

Last modified on 06 March 2019
Published in Global Cement News
Tagged under
  • Saudi Arabia
  • City Cement
  • Results
  • GCW394
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