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 |
| Total Assets | 25,608 | 25,321 | 1.14% |
| Total Equity | 21,555 | 20,562 | 4.83% |
| Revenue | 5,045 | 13,106 | -61.51% |
| Cost of Sales | 3,736 | 6,711 | -44.33% |
| Profit for the Year | 993 | 5,788 | -82.84% |
Source: Beirut Stock Exchange, Ciments Blancs