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Najran Cement announces 281.8% higher profit in 2020

Najran Cement announces 281.8% higher profit in 2020
Revenue of the company reached SAR 623.2 million in 2020.
NAJRAN CEMENT
3002
0.47% 21.30 0.10

Riyadh – Mubasher: Najran Cement Company achieved SAR 204.3 million in net profits during the year 2020, a surge of 281.8% when compared to SAR 53.5 million in 2019.

The leap in the company’s annual profit was helped by higher sales volume and lower financing expenses and cost of sales per tonne, according to a stock exchange statement on Tuesday.

Additionally, the Tadawul-listed company received the final and adjusted Zakat assessments for the years from 2014 to 2018, resulting in a revision of Zakat provisions for those years.

Revenue was SAR 623.2 million in 2020, a hike of 49.7% from SAR 416.4 million a year earlier.