Saudi Ceramic profits down 6% in Q3

The firm’s revenues and gross profit margin improved in Q3-20

  

Riyadh – Mubasher: Saudi Ceramic Company’s net earnings dropped by 5.9% yearly during the third quarter (Q3) of 2020, hitting SAR 32.461 million from SAR 34.494 million in the year-ago quarter.

Revenues totalled SAR 373.1 million in the July-September period, posting a 27.9% annual increase, according to a bourse disclosure on Thursday.

During Q3-20, the company posted lower general and administrative expenses and financing costs, and higher selling and marketing expenses. The firm’s revenues and gross profit margin improved when compared to the same period in 2019.

In the January-September period, the company turned to net profits of SAR 49.7 million, against net losses of SAR 6.66 million.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities