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-182017YOY
Total Assets 26,482.4126,267.030.82%
Total Equity 21,250.1719,034.5011.64%
Revenue 6,155.5813,450.05-54.23%
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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