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
|Total Assets ||26,482.41||26,267.03||0.82%|
|Total Equity ||21,250.17||19,034.50||11.64%|
|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