Riyadh – Mubasher: The net profits of City Cement Company by 33.71% year-on-year (YoY) to SAR 69.37 million during the first half (H1) of 2024 from SAR 51.88 million.

The company’s revenue by 24.22% YoY to SAR 231.10 million in H1-24 from SAR 186.03 million in H1-23, according to interim financial results.

The earnings per share (EPS) amounted to SAR 0.50 from January until the end of June, from SAR 0.37 in the corresponding period a year earlier.

Quarterly Results

During the second quarter (Q2) of 2024, City Cement’s net profit increased by 14.36% YoY to SAR 27.78 million from SAR 24.29 million.

Sales jumped by 43.05% YoY to SAR 111.28 million in Q2-24 from SAR 77.79 million.

Quarter-on-quarter (QoQ), the company’s net profit dropped by 33.20% in Q2-24 from SAR 41.59 million in previous quarter, while sales shrank by 7.12% from SAR 119.82 million.

In Q1-24, City Cement’s net profit soared by 50.75% YoY to SAR 41.59 million from SAR 27.58 million.