Riyadh – Mubasher: Arabian Cement Company has appointed Mutaz Kusai Hassan Al Azzawi as the new Chairman of the board for the next four years.

The Tadawul-listed firm also named Saud Abdulaziz Abdullah Al Sulaiman as the Vice Chairman, according to a bourse disclosure.

The new Chairman and Vice Chairman assumed their roles for a new term that began on 1 January 2024 and will remain in position until 31 December 2027.  

In the first nine months (9M) of 2023, the listed company posted 26.73% lower net profits after Zakat and tax at SAR 106.90 million, compared to SAR 145.90 million in 9M-22.

Revenues dropped by 10.97% to SAR 650.60 million in 9M-23 from SAR 730.80 million a year earlier, while the earnings per share (EPS) declined to SAR 1.07 from SAR 1.46.