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Saudi Cement registers 20% higher profits in 2022

Saudi Cement registers 20% higher profits in 2022
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SAUDI CEMENT
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0.81% 50.10 0.40

Riyadh – Mubasher: Saudi Cement Company logged net profits after Zakat and tax worth SAR 398.80 million in 2022, a 20.16% year-on-year (YoY) rise from SAR 331.90 million.

Revenues inched up by 0.72% to SAR 1.41 billion last year from SAR 1.40 billion in 2021, according to the annual financial results.

The earnings per share (EPS) stood at SAR 2.61 as of 31 December 2022, higher than SAR 2.17 a year earlier.

In the first half (H1) of 2022, the Tadawul-listed firm recorded a 20.46% YoY plunge in net profit after Zakat and tax to SAR 163.70 million, versus SAR 205.80 million.

The revenues declined by 14.56% to SAR 664 million in H1-22 from SAR 777.20 million in H1-21, while the EPS retreated to SAR 1.07 from SAR 1.35.