Riyadh – Mubasher: Yamama Cement Company recorded 13.46% year-on-year (YoY) higher net profits after Zakat and tax at SAR 251.49 million in the first nine months (9M) of 2023, versus SAR 221.64 million.

The earnings per share (EPS) amounted to SAR 1.24 in 9M-23, an annual rise from SAR 1.09, according to the initial income statements.

Revenues hit SAR 710.64 million in the January-September 2023 period, up 5.49% YoY from SAR 673.67 million.

Financials for Q3-23

In the third quarter (Q3) of 2023, the company’s net profits after Zakat and tax plummeted by 59.75% to SAR 40.78 million from SAR 101.33 million in Q3-22.

Yamama Cement registered a 14.85% YoY drop in revenue to SAR 211.71 million during July-September 2023, versus SAR 248.62 million.

On a quarterly basis, the Q3-23 net profits shrank by 58.52% from the SAR 98.30 million generated in Q2-23, while the revenues declined by 3.30% from SAR 218.94 million.