Riyadh – Mubasher: Al Jouf Cement Company achieved net profits after Zakat and tax worth SAR 31.23 million during the first nine months of 2021, higher by 1.7% Year-on-Year.

Earnings per share inched up to SAR 0.22 at the end of September 2021 from SAR 0.21 in the same period a year earlier, according to the interim financial results on Thursday.

Sales meanwhile decreased by 4% YoY to SAR 176.51 million in January-September 2021 from SAR 184.23 million.

During the third quarter (Q3) of 2021, the company recorded net profits standing at SAR 3.7 million, a plunge of 54.9% from SAR 8.22 million in Q3-20.

Sales also shrank by 20% YoY to SAR 54.88 million in Q3-21 from SAR 68.93 million.

The lower annual sales besides average selling prices and higher financing expenses were the main reason behind the plummet in Q3-21 profits compared to the same quarter a year earlier.