The struggle is real
Saudi cement makers’ figures have been diminishing lately. SCC’s Q3 2017 results fell by 33.3% to SAR250m compared to Q3 2016. Thus, the gross profit halved from SAR232m, in Q3 2017, to SAR115m in the same quarter of last year. However, the cement maker has seen its net income shrink by 56.8% to stand at SAR87m in Q3 2017 vs. SAR202m in Q3 2016. Q3 2017 EPS has witnessed a tremendous decrease of 56.8% from SAR1.32 to SAR0.57.Saudi Cement is a cement production company based in the Kingdom of Saudi Arabia. Co.'s main and only activity is the manufacture and trade of cement and cement related products and investment in cement related fields. Co. is engaged in the operation of two cement plants in the Eastern Province of Saudi Arabia, namely the Hofuf Plant (total capacity of the plant is 7825 tons of clinker per day) and Ain Dar Plant (total of 6000 tons of clinker per day). Co.'s locations include Dammam, Hofuf (Hofuf Plant), Ain Dar (Ain Dar Plant) and Dammam Export (Export Terminal).
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