Riyadh – Mubasher: Saudi Cement Company registered net profits worth SAR 113.80 million during the first quarter (Q1) of 2024, signalling an 8.07% decline from SAR 123.80 million in Q1-23.

The earnings per share (EPS) edged lower to SAR 0.74 at the end of March 2024 compared with SAR 0.81 in the same period last year, according to a bourse filing.

Meanwhile, the sales increased by 4.12% to SAR 426.50 million during January-March 2024 from SAR 409.60 million in the corresponding quarter a year earlier.

On a quarterly basis, the net profits of the Saudi manufacturer in Q1-24 were 9.63% higher than SAR 103.80 million in Q4-23, while the revenues grew by 11.97% from SAR 380.90 million.

In 2023, Saudi Cement generated SAR 381 million worth of net profits in addition to revenues of SAR 1.46 billion.