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Saudi Cement logs SAR 277m net profits in 9M-23

Saudi Cement logs SAR 277m net profits in 9M-23
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-12.67% 43.75 -6.35

Riyadh – Mubasher: The net profits after Zakat and tax of Saudi Cement Company hit SAR 277.20 million in the first nine months (9M) of 2023, marking a 13.47% jump from SAR 244.30 million in 9M-22.

The earnings per share (EPS) increased to SAR 1.81 in 9M-23 from SAR 1.60 a year earlier, according to the initial income statements.

Revenues stood at SAR 1.08 billion in the January-September 2023 period, up 8.95% year-on-year (YoY) from SAR 992.10 million.

Financials for Q3-23

In the third quarter (Q3) of 2023, the company registered SAR 68.30 million in net profit after Zakat and tax, lower by 15.37% than SAR 80.70 million in Q3-22.

The revenues decreased by 3.99% to SAR 315 million during July-September 2023 from SAR 328.10 million a year earlier.

On a quarterly basis, the Q3-23 net profits retreated by 19.84% from SAR 85.20 million in Q2-23, while the revenues dropped by 11.59% from SAR 356.30 million.