Najran Cement: Financial impact of adjusting fuel prices is the cost of sales increase by 13%

Najran Cement Company announced on Sunday that the direct financial impact is estimated to be an increase of approximately 13% in the company’s cost of sales. This impact is expected to appear starting from first quarter of the fiscal year 2024.

It should be noted that the company is currently operating its Waste Heat Recovery (WHR) project to generate electricity, which will partially reduce the financial impact.

The company would also like to assure its esteemed shareholders that it will work during the coming period to explore ways to reduce the financial impact of this adjustment on the company’s profits, and will continue to implement its plans to reduce costs and improve production and operating efficiency. It will also work with government agencies to explore ways to diversify energy sources.

The direct financial impact is estimated to be an increase of approximately 13% in the company’s cost of sales. This impact is expected to appear starting from first quarter of the fiscal year 2024.