Riyadh – Mubasher: Southern Province Cement Company generated SAR 238 million in net profit after Zakat and tax during the first nine months (9M) of 2022, lower by 28.10% than SAR 331 million in 9M-21.

Revenues amounted to SAR 887 million in the January-September 2022 period, an annual drop of 12.27% from SAR 1.01 billion, according to the initial financial results.

Meanwhile, the earnings per share (EPS) settled at SAR 1.70 in 9M-22, versus SAR 2.37 in 9M-21.

During the third quarter (Q3) of 2022, the company’s net profits after Zakat and tax jumped by 20.27% year-on-year (YoY) to SAR 89 million, compared to SAR 74 million.

Also, the revenues grew by 13.73% YoY to SAR 323 million in Q3-22 from SAR 284 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax hiked by 45.90% from SAR 61 million in Q2-22, whereas the revenues enlarged by 38.03% from SAR 234 million.

In the first half (H1) of 2022, Southern Province Cement reported net profits after Zakat and tax worth SAR 150 million, down 41.63% YoY from SAR 257 million.

Last September, the Tadawul-listed firm paid SAR 105 million, which represented 7.50% of the capital, as cash dividends for H1-22.