Riyadh – Mubasher: Al Jouf Cement Company’s third quarter (Q3) net profits leapt by 643.4% to SAR 8.22 million, compared with SAR 1.1 million in the corresponding period a year earlier.
The growth in quarterly earnings was helped by an increase in sales’ volume and value, coupled with a decrease in the cost of sales per ton as production rose. This came despite the addition of a provision for receivables and a rise in Zakat expense, according to a stock exchange statement on Thursday.
Revenue amounted to SAR 68.9 million in the July to September period, a yearly surge of 155.5%.
In the first nine months of the year, the net profit came in at SAR 30.7 million, up by 1,030% on a yearly basis.