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Yanbu Cement’s Q3 profits shrink 56%

Yanbu Cement’s Q3 profits shrink 56%
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Riyadh – Mubasher: Yanbu Cement Company logged a year-on-year (YoY) decrease of 55.8% in net profits to SAR 36.4 million during the third quarter (Q3) of 2021 from SAR 82.48 million.

Revenues declined by 13.5% YoY to SAR 207.78 in Q3-21 from SAR 240.36 million in Q3-20, according to the financial results on Thursday.

During the first nine months of 2021, Yanbu Cement posted a 28.7% YoY drop in profits to SAR 149.69 million from SAR 210.12 million.

Earnings per share stood at SAR 0.95 in the January-September 2021 period, compared to SAR 1.33 in the same period last year.

Revenues increased by 10% YoY to SAR 742.87 million in the nine-month 2021 period from SAR 674.69 million.