Ciments Blancs Witnessed a Plunge in its Profits by H1 2017
The statement of comprehensive income of the “Societe Libanaise des Ciments Blancs” revealed an plunge in the company’s profit from $4.39M in 2016 to $1.69M in June 2017. Net sales dropped from $12.21M in 2016 to $6.37M in June 2017; moreover, the cost of sales dropped from $6.41M in 2016 to $4.11M by June 2017.
According to June 2017’s balance sheet, total assets marginally increased by an annual 0.11% to $24.56M. Moreover, total equity rose by 8.41% year-on-year to $20.65M as retained earnings almost doubled from $4.47M in 2016 to $6.05M in June 2017.
Ciments Blancs Financial Highlights
| ($M) | Jun-17 | Dec-16 | YOY |
| Total Assets | 24.56 | 24.54 | 0.11% |
| Total Equity | 20.65 | 18.96 | 8.91% |
| Net Sales | 6.37 | 12.21 | -47.81% |
| Cost of Sales | 4.11 | 6.41 | -35.97% |
| Profit for the Year | 1.69 | 4.39 | -61.49% |
Source: Beirut Stock Exchange, Ciments Blancs
