First revenue drop in 10 years
Saudi Ceramics recorded a negative revenue growth for the fourth quarter in a row. Q4 2016 sales amount to SAR350m, a 15% yoy decline that brought total revenues registered during FY2016 to SAR1.304bn (-21.4% yoy, a negative growth for the first time in the last 10 years). The cost of sales fell at a slower rhythm than revenues, i.e. -12.4% to stand at SAR942.591m. The gross margin lost 744 bps to 27.66%.Saudi Ceramics is engaged in the production and sales of Ceramic products and water heaters and import related machineries, equipments and other accessories.
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