Société Libanaise Des Ciments Blancs S.A.L. published its audited financial statements this week, conveying a 38.22% sharp annual drop in net after-tax profit to $1.27 million in 2020, compared to $2.06 million a year earlier. In details, the company’s net sales fell by 13.97% to $8.23 million, with cost of goods sold also dropping by 14.62% to $6.04 million, leading to a 12.10% contraction in gross profit to $2.19 million. The company’s gross profit margin however rose to 26.63% in 2020, from 26.06% a year before. In parallel, the company managed to trim its selling, general, and administrative expenses by 6.80% to $1.02 million. The company’s net profit margin fell to 15.48%, compared to 21.56% in 2019. On the balance sheet front, Société Libanaise Des Ciments Blancs’ total assets narrowed by 1.83% in the year 2020 to $24.83 million, down from $25.29 million at end of 2019. Similarly, total liabilities plunged by 33.47% to $3.72 million as a result of the sharp decrease in accounts payable & other liabilities to $2.46 million. The company’s shareholders equity widened by 7.15% in the year 2020 to $21.11 million as a result of the carried forward profits. On the profitability front, the company’s return on assets (ROA) and return on equity (ROE) ended the year 2020 lower at 4.88% and 6.04% respectively.