Société Libanaise Des Ciments Blancs S.A.L. published its audited financial statements this week, conveying a 64.36% sharp annual drop in net after-tax profit to $2.06 million in 2019, compared to $5.79 million a year earlier. In details, the company’s net sales fell by 27.17% on a yearly basis to $9.57 million, while cost of goods sold rose by 4.79% to $7.07 million, leading to a 60.96% contraction in gross profit to $2.49 million. In this context, the company’s gross profit margin fell to 26.06% in 2019, from 48.62% a year before. In parallel, the company saw a 21.76% decrease in its selling, general, and administrative expenses to $1.10 million. As a result, the net profit margin fell to 21.56%, compared to 44.05% in 2018. On the balance sheet front, Société Libanaise Des Ciments Blancs’ total assets narrowed by 0.25% in the year 2019 to $25.29 million, down from $25.36 million at end of 2018. On the other hand, total liabilities rose by 16.60% to $5.59 million as a result of the double-fold increase in accounts payable to around $3.53 million. The company’s shareholders equity contracted by 4.18% in the year 2019 to $19.70 million as a result of the distribution of profits. On the profitability front, the company’s return on assets (ROA) and return on equity (ROE) ended the year 2019 lower at 7.54% and 10.47% respectively.