Ciments Blancs recorded net profit of $2.17M in H1 2015, a 27.65% increase from $1.70M in H1 2014. This occurred, despite a 23.36% yearly decrease in sales to $7.92M by June, due to the average 45% plunge in international oil prices from June of last year, which contributed largely to the decline in the cost of goods sold. Furthermore, the company made considerable improvements in its operating expenses.
On the balance sheet, total assets fell from $23.71M by June 2015 to $23.53M by June 2015. Total shareholders’ equity also went down from $18.81M to $17.62M, over the same period.
Ciment Blancs’ Financial Highlights ($M)
Jun-14 | Jun-15 | Change | |
Total Assets | 23.71 | 23.53 | -0.76% |
Total Equity | 18.81 | 17.62 | -6.33% |
Sales | 7.92 | 6.07 | -23.36% |
Net Profit | 1.70 | 2.17 | 27.65% |
Source: BSE News