Saudi Arabia's Qassim Cement has seen an 88.9 per cent YoY fall in its net profit during the third quarter of 2018, decreasing to SAR5.68m (US$1.514m) from SAR51.24m. The profit has been attributed to a drop in the volume and value of sales after a declining demand.
Revenue in the 3Q18 fell 43 per cent to SAR74.36m from SAR130.74m of the corresponding period a year ago.
During the first nine months of 2018, the company's net profit decreased 56 per cent YoY to SAR81.24m from SAR184.59m.
East African Holding signs MoU with Ethiopia's ECWC
East African Holding (EAH) has signed a Memorandum of Understanding (MoU) with the Ethiopian Con...