Riyadh – Mubasher: City Cement Company achieved SAR 50.5 million in profits during the third quarter of 2019, against SAR 2.38 million in losses in the same quarter of 2018.

Total revenues hiked by 95.8% to SAR 127.9 million in Q3-19, compared to SAR 65.3 million in Q3-18, according to a bourse statement on Monday.

For the first nine months of 2019, net profits of City Cement soared by 283.3% to SAR 124 million, from SAR 32.39 million in the same period of the previous year.

The company generated SAR 373 million in revenues in nine months, up 45.4% from SAR 256.5 million in the same period of 2018.

Profit per share stood at SAR 0.66 by the end of September, compared to SAR 0.17 in September 2018.