Tawasul
Mubasher TV
Contact Us Advertising   العربية

Umm Al Qura Cement logs 70% higher earnings in Q2

Umm Al Qura Cement logs 70% higher earnings in Q2
Revenue for Q2-20 surged to SAR 62.56 million
UACC
3005
1.86% 24.06 0.44

Riyadh – Mubasher: The net profits of Umm Al Qura Cement Company advanced by 70.73% yearly in the second quarter (Q2) ended 30 June 2020 to stand at SAR 20.97 million when compared to SAR 12.29 million in Q2-19.

This jump is ascribed to a rise in sales value and volume and an improvement in average selling prices during the April-June period of the year, according to a disclosure to the Saudi bourse on Tuesday.

The company's general and administrative expenses slid, whereas other income rose despite the increase in Zakat expenses.

Revenue for the second three months of 2020 totalled SAR 62.56 million, a surge of 34.78% when compared to SAR 46.42 million seen in the corresponding period a year ago.