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Eastern Province Cement's profits decline 52% in Q1-22

Eastern Province Cement's profits decline 52% in Q1-22
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EPCCO
3080
-0.67% 44.50 -0.30

Riyadh – Mubasher: The net profits after Zakat and tax of Eastern Province Cement Company plunged by 51.66% to SAR 29 million in the first quarter (Q1) of 2022 from SAR 60 million in the year-ago period.

The company generated revenues of SAR 161 million in Q1-22, down 25.80% year-on-year (YoY) from SAR 217 million, according to a bourse filing on Wednesday.

The earnings per share (EPS) stood at SAR 0.34 in the first three months (3M) of 2022, against SAR 0.7 in the same period of 2021.

It is noteworthy to mention that in 2021, the company's net profits after Zakat and tax declined by 7.37% to SAR 201 million from SAR 217 million in 2020.