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Crisis' signs are protesting
Saudi Ceramics’ profitability indicators do not sound good. The company recorded a declining operational profit by -32.77% y.o.y to stand at SAR55.055m. The gross profit shrunk by 23.57% compared to SAR158.455m in Q1 2015. Saudi Ceramics has begun the year 2016 with a net profit amounting to SAR48.018m, a drop of 43% y.o.y.
Q4 is not enough
SCERCO's Q4 2015 revenues increased significantly by 10.15%, yoy, contributing to an annual growth of 2.26% at SAR1657.975M. However, although the finance costs declined by 6.45%, the net income has witnessed a deterioration of 8.50% at SAR283.844M. The gross margin kept a flat level at 35.10% (vs. 34.8% in 2014).
Q3 continues its usual trend
Saudi Ceramics recorded 9M 2015 revenues almost at the same level as last year (-0.11%), reaching SAR1.245bn. However, the net result decreased by 8.9% during the first nine months of the current year, y-o-y, principally driven by a 20.6% decrease in Q3 2015, although the cost of sales declined by 1.22% during the same period.
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