Riyadh – Mubasher: Umm Al Qura Cement Company has reported net profits after Zakat and tax worth SAR 13.84 million during the first quarter (Q1) of 2022, down 55.39% from SAR 31.03 million in Q1-21.

During the January-March 2022 period, the company generated SAR 65.60 million in revenue, a 27.43% year-on-year (YoY) plunge from SAR 90.40 million, according to a bourse disclosure on Monday.

Meanwhile, the earnings per share (EPS) plummeted to SAR 0.25 in Q1-22 from SAR 0.56 in Q1-21.

On a quarterly basis, the revenues in Q1-22 declined by 2.92% from SAR 67.57 million in Q4-21, while the net profits decreased by 13.93% from SAR 16.08 million.

In 2021, Umm Al Qura Cement achieved net profits after Zakat and tax worth SAR 78.01 million, an annual drop of 33.70% from SAR 117.67 million.