Profitability turned into red
During Q3 2016, Saudi Ceramics registered tumbling revenues by 34.45% yoy at SAR232.441m, bringing total revenues recorded since the beginning of the year to fall by 23.5% to SAR953.091m vs. SAR1.245bn as of 9M 2015. The cost of sales also declined by 25.879% to SAR177.818m on the back of a slowing activity. The gross margin, in spite of lowering costs, has lost 892 bps to stand at 23.5% vs. 32.42% in Q3 2015.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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