THE CEMENT MAKER’S CRASH
SPCC’s figures continue their bearish trend following the disastrous state of the Saudi sector. Revenues announced in Q2 2017 are 50.7% lower than Q2 2016 sales, attaining SAR243m vs. SAR493m. The Saudi cement maker’s net profit went down by more than 64.5% compared to the same quarter one year earlier (SAR95m in Q2 2017 vs. SAR268m in Q2 2016). While the EPS fell from SAR3.94 in H1 2016 to SAR1.43 in H1 2017.Southern Province Cement Company SJSC is a Saudi Arabia-based public shareholding company engaged in manufacturing and marketing of cement and its derivatives, as well as undertaking all related businesses. The Company operates three factories in Jazan, Bisha and Al-Kunfuza, Kingdom of Saudi Arabia. The Company's major shareholders include Public Investment Fund (37.4%) and General Organization for Social Insurance (15.40%).
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