Riyadh – Mubasher: Saudi Cement Company disclosed its interim financial results for the second quarter of 2019.

Net profits after zakat and tax grew 59.1% to SAR 92.3 million in Q2-19, compared to SAR 58 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Tuesday.

The firm attributed the jump in profits to the increase in sales, and a rise in share in net results of associates companies, in addition to the increase in other revenues.

Total revenues levelled up by 37.8% to SAR 338.6 million during the three-month period ended in June, from SAR 245.7 million in the same period a year earlier.

For the first half of 2019, net profits of Saudi Cement advanced by 12.2% to SAR 224.8 million, versus SAR 200.3 million in H1-18.

Revenues of the Saudi company jumped 26.3% year-on-year to SAR 729 million during the first six months of 2019.

Profit per share stood at SAR 1.47 in H1-19, compared to SAR 1.31 in the corresponding period of the previous fiscal year.