Profits of Ciments Blancs Plunged to $2.22M in H1 2018

The financial statements of the “Societe Libanaise des Ciments Blancs” revealed a plunge in the company’s profits from $4.45M by end 2017 to $2.22M by June 2018. In fact, net sales plummeted, going from $13.45M to $6.16M in H1 2018. The cost of sales also fell from $7.34M in 2017 to $3.14M by June 2018.

According to the company’s balance sheet as of June 2018, total assets grew by an incremental 0.82% year-to-date (y-t-d) to settle at $26.48M in H1 2018. In turn, total equity rose by 11.64% y-t-d to reach $21.25M.

Ciments Blancs Financial Highlights

(in $000) Jun-18 2017 YOY
Total Assets 26,482.41 26,267.03 0.82%
Total Equity 21,250.17 19,034.50 11.64%
Revenue 6,155.58 13,450.05 -54.23%
Cost of Sales                      3,142.71                                       7,344.91 -57.21%
Profit for the Year                      2,215.67                                       4,445.07 -50.15%

Source: Beirut Stock Exchange, Ciments Blancs

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