Riyadh – Mubasher: Northern Region Cement Company achieved net profits after Zakat and tax worth SAR 52.9 million in the first half (H1) of 2021, higher by 26.9% than SAR 41.65 million in H1-20.

Earnings per share stood at SAR 0.29 in H1-21, compared to SAR 0.23 in H1-20, according to the income statements on Wednesday.

Sales decreased by 1.6% to SAR 307.19 million in H1-21 from SAR 312.2 million in H1-20.

In the second quarter (Q2) of 2021, the cement company reported higher profits by 49.8% to SAR 21.04 million, compared to SAR 14.04 million in Q2-20. The revenues also increased by 10% to SAR 145.32 million from SAR 132.03 million.

Quarter-on-quarter (QoQ), the net profits in Q2-21 were lower by 33.9% than SAR 31.86 million in Q1-20, and the sales shrank by 10.2% from SAR 161.87 million.

In a separate disclosure, Northern Region Cement announced a cash dividend worth SAR 0.25 per share, representing 2.5% of the share’s par value, for H1-21.

The company will distributed a total amount of SAR 45 million for 180 million shares eligible for the dividends.

The distribution date has been set as 24 August to the shareholders of record date equivalent to 10 August.