Riyadh – Mubasher: Hail Cement reported a 433.3% year-on-year hike in profits during the first quarter of 2019.
Net profits stood at SAR 22.5 million in Q1-19, compared to SAR 4.2 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.
The increase in Q1-19 net profits was ascribed to more sales quantity and better selling price.
Total sales jumped 40.7% to SAR 68.6 million in Q1-19, from SAR 48.7 million in the same period of the prior year.
In 2018, Hail Cement turned to losses after incurring SAR 23.55 million.
