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Hail Cement logs SAR 41m profits in H1-21

Hail Cement logs SAR 41m profits in H1-21
Earnings per share declined to SAR 0.42 in H1-21
HCC
3001
0.35% 11.44 0.04

Riyadh – Mubasher: Hail Cement Company achieved net profits after Zakat and tax worth SAR 41.21 million during the first half (H1) of 2021, a decrease of 33% from SAR 61.97 million in H1-20.

Earnings per share declined to SAR 0.42 in H1-21 from SAR 0.63 in H1-20, according to the financial results on Monday.

Revenues plunged by 20% annually to SAR 147.8 million in the first six months of 2021 from SAR 185.69 million in the same period last year.

As for the second quarter (Q2) of 2021, Hail Cement registered 29% lower profits at SAR 15.34 million from SAR 21.74 million in Q2-20.

Revenues went down 0.48% to SAR 65.91 million in the April-June 2021 period from SAR 66.23 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 40.6% lower than SAR 25.87 million in Q1-21, and the revenues shrank by 19.5% from SAR 81.89 million.