National Gypsum says sales costs to rise nearly 10.8% on fuel price adjustment

19/02/2024 Argaam

National Gypsum says sales costs to rise nearly 10.8% on fuel price adjustment

Logo of National Gypsum Co. (NGC) 

National Gypsum Co. (NGC) said the approximate financial impact related to Saudi Arabian Oil Co.’s (Saudi Aramco) notice of fuel price adjustment will be a 10.81% increase in the cost of sales, according to a statement to Tadawul today, Feb. 19.

 

It added that the impact is likely to be reflected starting from Q1 2024, stressing that it is working to minimize the financial impact of this adjustment on its financial results.

 

The company earlier received a notice from Saudi Aramco on the rise in prices of fuel products used in production, effective Jan. 1, Argaam reported.

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