Riyadh – City Cement Company posted a net profit after Zakat and tax worth SAR 41.99 million in the first half (H1) of 2022, a drop of 63.71% from SAR 115.72 million in the corresponding period in 2021.

Earnings per share (EPS) went down to SAR 0.3 in H1-22, compared with SAR 0.83 in H1-21, according to a stock exchange statement on Tuesday.

Revenue for the six-month month period ended 30 June 2022 tumbled by 32.06% annually to reach SAR 197.33 million.

In the second quarter (Q2) of 2022, the Tadawul-listed company’s net profit after Zakat and tax halved to SAR 24.84 million, from SAR 49.70 million. Additionally, revenue for Q2-22 stood at SAR 89.23 million, down 25.53% from SAR 119.82 million in Q2-21.

During the January-March period in 2022, City Cement logged net profits after Zakat and tax worth SAR 17.15 million, an annual plunge of 74.01% from SAR 66.01 million.

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