Riyadh – Mubasher: Northern Region Cement Company achieved net profits after Zakat and tax valued at SAR 64.70 million in the first nine months (9M) of 2023, an annual drop of 14.56% drop from SAR 75.72 million.

The revenues soared by 18.78% year-on-year (YoY) to SAR 514.23 million in 9M-23 from SAR 432.94 million, according to the interim income statements.

Earnings per share (EPS) reached SAR 0.36 in January-September 2023, an annual decline from SAR 0.42.

Financial Results for Q3-23

During the third quarter (Q3) of 2023, the Tadawul-listed firm registered net profits after Zakat and tax worth SAR 23.35 million, marking a 15.49% plunge from SAR 27.63 million in Q3-22.

Revenues stood at SAR 175.20 million in Q3-23, higher by 5.38% YoY than SAR 166.25 million.

On a quarterly basis, the Q3-23 profits climbed by 19.22% from SAR 19.59 million in Q2-23, while the revenues increased by 10.93% from SAR 157.94 million.

In the three-month period that ended on 31 March 2023, the company’s net profits after Zakat and tax amounted to SAR 21.75 million, down 6.81% YoY from SAR 23.34 million.