Riyadh – Mubasher: Umm Al Qura Cement Company reported net profits of SAR 10.05 million in the first nine months (9M) of 2023, a yearly drop of 65.70% from SAR 29.30 million.

Revenues decreased by 33.90% to SAR 118.50 million in 9M-23 from SAR 179.29 million in 9M-22.

Earnings per share (EPS) reached SAR 0.18 as of 30 September 2023, lower year-on-year (YoY) than SAR 0.53, according to the preliminary financial results.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm recorded 76.37% YoY lower net profits at SAR 1.44 million, compared to SAR 6.12 million.

Revenues fell by 38.18% YoY to SAR 33.51 million in Q3-23 from SAR 54.21 million.

On a quarterly basis, the Q3-23 net profits declined by 20.74% from the SAR 1.82 million registered in Q2-23 and the revenues slipped by 11.41% from SAR 37.83 million.

In 2022, Umm Al Qura Cement reported net profits of SAR 22.98 million, in addition to revenues of SAR 221.21 million and EPS of SAR 0.42.