The financial statements of the “Societe Libanaise des Ciments Blancs” revealed a plunge in the company’s profits from $5.8M by end 2018 to $993,000 by June 2019. The contraction in profits came on the back of Net sales plummeting from $13.11M in 2018 to $5.05M in H1 2019. The Cost of sales also slipped from $6.71M in 2018 to $3.74M by June 2019.
As for the company’s balance sheet as of June 2018, it showed Total assets added 1.14% year-to-date (y-t-d), to settle at $25.61M in H1 2019. Meanwhile, Total equity rose by 4.83% y-t-d to reach $21.55M.
Financial Highlights of Ciments Blancs: H1 2019
|in 000 of USD||Jun-19||2018||YOY|
|Cost of Sales||3,736||6,711||-44.33%|
|Profit for the Year||993||5,788||-82.84%|
Source: Beirut Stock Exchange, Ciments Blancs