Net income – SAR184 million, -11% Y-o-Y, -12% Q-o-Q, -2% versus EFGe Gross profit – SAR200 million, -11 Y-o-Y, -11% Q-o-Q, -2% versus EFGe Net operating profit – SAR188 million, -11% Y-o-Y, -11%, -2% versus EFGe   Yanbu Cement Company reported preliminary 1Q2016 headline figures, showing a Y-o-Y earnings drop of -11% to SAR184 million (in line with our estimate), on lower prices, sales volumes and hike in energy costs. Gross profit and EBIT followed suit, with a decline of 11% Y-o-Y, in line with our forecast, on a drop in prices and volumes; volumes were flattish for the combined months of January and February. We expect a 2% Y-o-Y decrease in revenues for the quarter on flattish volumes and prices (at depressed levels), (the revenue figure has not yet been disclosed). (Earnings release, Tarek El-Shawarby)