Riyadh – Mubasher: Al Jouf Cement Company generated net profits after Zakat and tax valued at SAR 23.47 million in the first quarter (Q1) of 2023, an annual hike of 561.16% from SAR 3.55 million.

The revenues amounted to SAR 70.27 million in Q1-23, higher by 43.96% year-on-year (YoY) than SAR 48.81 million, according to the interim financial results.

Earnings per share (EPS) increased to SAR 0.22 as of 31 March 2023 from SAR 0.03 in the year-ago period.

On a quarterly basis, the Q1-23 net profits grew by 1.46% from SAR 23.13 million in Q4-22, while the revenues declined by 11.53% from SAR 79.42 million.

During the 12-month period that ended on 31 December 2022, the Saudi firm shifted to net profits after Zakat and tax worth SAR 32.49 million, against net losses of SAR 148.81 million in 2021.