Riyadh – Mubasher: Arabian Cement Company recorded a 7.64% year-on-year (YoY) growth in net profit to SAR 83.10 million during the first half (H1) of 2024, compared to SAR 77.20 million.

The revenues amounted to SAR 402.80 million in H1-24, marking an annual drop of 7.80% from SAR 436.90 million, according to the financial results.

Earnings per share (EPS) increased to SAR 0.83 as of 30 June 2024 from SAR 0.77 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits reached SAR 28.90 million, up 3.21% YoY from SAR 28 million.

Revenues shrank by 10.97% to SAR 175.20 million in the three-month period that ended on 30 June 2024 from SAR 196.80 million in Q2-23.

Quarter-on-quarter (QoQ), the net profits in Q2-24 retreated by 46.67% from SAR 54.20 million in Q1-24, while the revenues declined by 23.02% from SAR 227.60 million.

Dividends

The board members agreed to distribute cash dividends amounting to SAR 75 million for H1-24.

Arabian Cement will pay a dividend of SAR 0.75 per share, representing 7.50% of the share nominal value, for 100 million eligible shares.

Eligibility and disbursement dates for the dividends will be 30 July and 15 August 2024, respectively.