Riyadh – Mubasher: Arabian Cement Company registered a net profit after Zakat and tax worth SAR 67 million during the first quarter (Q1) of 2021, up year-on-year (YoY) by 48.5% from SAR 45.1 million.

The Q1-21 net income was also 25.7% higher than SAR 53.3 million in the fourth quarter (Q4) of 2020, according to the interim financial results.

Sales increased by 57% YoY to SAR 321.5 million in Q1-21 from SAR 204.6 million, and by 10.5% QoQ from SAR 290.8 million.

Arabian Cement posted a profit per share of SAR 0.67 in the three-month period ended 31 March, compared with SAR 0.45 in Q1-20.

During 2020, net profits dropped by 11.4% to SAR 184.9 million compared to SAR 208.7 million in 2019. Meanwhile, a total of SAR 225 million was paid out as cash dividends for the full year.