Riyadh – Mubasher: Hail Cement Company registered a net profit after Zakat and tax worth SAR 47.17 million during the first nine months of 2021, posting a year-on-year (YoY) decrease of 44% from SAR 84.8 million.

Earnings per share went down to SAR 0.48 at the end of September 2021 from SAR 0.87 in the same period a year earlier, according to the initial financial results on Thursday.

Sales declined by 20.7% YoY to SAR 203.88 million in January-September 2021 from SAR 257.37 million.

During the third quarter (Q3) of 2021, Hail Cement also reported a YoY plummet of 73.9% in net profits to SAR 5.95 million from SAR 22.83 million in Q3-20.

Sales shrank by 21.7% to SAR 56.08 million in Q3-21 from SAR 71.67 million in Q3-20.

On a quarterly basis, the net profits in Q3-21 were 61% lower than SAR 15.34 million in Q2-21, while the revenues decreased by 14.9% from SAR 65.91 million.