Najran Cement CEO says higher efficiency boosts Q3 2019 profits

Najran Cement’s higher Q3 2019 financial results were backed by an increase in sales volumes and lower costs of production and sales due to higher operational efficiency, the company’s chief executive officer Abdulsalam bin Abdullah Al-Duraibi said.

“Higher operational efficiency is mainly due to the company’s identification of opportunities and initiatives that helped to improve performance in Q3 2019,” Al-Duraibi told AlArabiya TV.

Commenting on the impact of higher prices on the firm’s results, he said that the revenue growth in Q3 is due to higher sales volumes by 50 percent, while prices grew by 20 percent.

“Lower sales prices in 2017 were not justified, and part of it was due to the uncertainty that cast shadow on many players, while the company saw an increase in sales in 2019,” Al-Duraibi said.

Earlier, the company posted a net profit of SAR 14.13 million in Q3 2019 as compared to a net loss of SAR 23.73 million in the same period in 2018.