Riyadh – Mubasher: Arabian Cement Company’s net profits for the year 2020 dropped by 11.4% to SAR 184.9 million, compared with SAR 208.7 million in 2019.

The slump in the company’s annual profits is attributed to higher sales costs and marketing expenses, according to a bourse disclosure on Monday.

The company’s revenue stood at SAR 871.9 million last year, a rise of 11.5% when compared to SAR 782 million a year earlier.

In a separate filing, the company said its board recommended paying SAR 1.25 per share or 12.5% of the share’s par value in cash dividends to shareholders for the second half (H2) of 2020.