Riyadh – Mubasher: Arabian Cement Company recorded net profits after Zakat and tax worth SAR 100.5 million in the first half (H1) of 2021, an increase of 90.7% from SAR 52.7 million in H1-20.

Earnings per share rose to SAR 1 in the first six months of 2021 from SAR 0.53 in the same half last year, according to the financial results on Monday.

Revenues soared by 61% to SAR 554.5 million in H1-21 from SAR 344.2 million in H1-20.

As for the second quarter (Q2) of 2021, the cement company registered a leap of 340% in net profits to SAR 33.5 million from SAR 7.6 million in Q2-20.

Revenues increased by 66.9% to SAR 233 million in April-June 2021 period, compared to SAR 139.6 million in the same quarter last year.

On a quarterly basis, the net profits in Q2-21 were 50% lower than SAR 67 million in Q1-21, and the revenues decreased by 27.5% from SAR 321.5 million.

In a separate disclosure to Tadawul, Arabian Cement announced the board’s recommendation to distribute a cash dividend of SAR 1.25 per share, representing 12.5% of the share’s par value, for H1-21.

The total amount of the proposed dividends is SAR 125 million for 100 million eligible shares.

The cement company will pay the dividends on 6 September to the shareholders of record date equivalent to Wednesday, 18 August.