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Loss of 6.34 million dinars Lafarge Cement in 2018



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It has ratified the General Directorate of the Jordanian cement works companies – Lafarge Cement Alordnah- on the company's financial statements for the year ended 2018, during a regular council meeting on Tuesday, in the presence of observer delegates from the companies and the completion of the legal quorum.

The company recorded a net loss at the end of last year, amounting to 6.34 million dinars, compared with the amount of loss of 3, 33 million dinars in 2017.

The reason for the company's losses to less on & # 39; sales by 13 percent due to a decrease in domestic demand, due to the slowdown in construction activity and lower capital costs, as well as a sharp fall in cement sales prices during the first seven months of 2018 less than the level of production costs due to intense price competition.

The company incurred additional losses due to the increased costs of environmental problems at the company in the amount of 5.6 million dinars in 2018 compared with the previous year, against the background of the depreciation amount of six million dinars of deferred tax assets due to changes in statutory income tax rate in accordance the new tax law.

CEO, Simon, Simon, that the company is still facing great challenges presented by a large number of environmental problems, which are still under consideration by the elimination of surplus labor, noting that the company incur additional labor costs for their needs in a result of their work at a lower cost than the production capacity, due to the interruption Fhais factory to produce "clinker", and stop all the milling and packaging plant in Fhais and linear stopped production at the plant AlRashadiyeh.

He said that, despite the difficulties faced by the company and the accumulated losses, but the company's management still faces policy control and follow-up in all programs and plans of the company, which helps to reduce costs in order to reduce the influence of market demand recession and the decline in sales of strong price competition, which included improving the efficiency of operations, performance, and provide an alternative to conventional fuels, as well as to monitor the progress of the project to generate electricity from solar power capacity of 6.15 MW.

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