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