Hail Cement shares jump 5% hitting 3-week high

Shares of Hail Cement Co. were one of the top gainers on Thursday hitting the highest over three weeks.

Hail Cement stock rose 4.96% to trade at SR 13.96 by 11:45 AM during today’s session.

Around 1910 deals worth SR 23.3 million have been executed on 1.7 million shares of Hail Cement.

It should be noted that the company turned to losses of SR 6.89 million in the first quarter of the current year compared to profits of SR 25.87 million in the same period of the previous year.

Hail Cement attributed the 1Q losses to lower revenues and higher costs, as the revenues shrank 16.2% to SR 68.62 (Y/Y).