Riyadh – Saudi Ceramic Company achieved net profits after Zakat and tax worth SAR 89.26 million in the first half (H1) of 2022, a decrease of 33.40% from SAR 134.02 million in H1-21.

The earnings per share declined to SAR 1.12 in the first six months (6M) of 2022 from SAR 1.68 in the year-ago period, according to the interim financial results on Monday.

Saudi Cement also registered lower revenues by 7.71% at SAR 734.98 million in H1-22, compared to SAR 796.39 million in H1-21.

During the second quarter (Q2) of 2022, the company posted net profits of SAR 37.96 million, marking a year-on-year (YoY) plunge of 40.05% from SAR 63.33 million.

The revenues also fell by 4.84% YoY to SAR 338.82 million in Q2-22 from SAR 356.05 million.

On a quarterly basis, the cement manufacturer’s net profits in Q2-22 were 25.98% lower than SAR 51.29 million in Q1-22, while the revenues shrank by 14.47% from SAR 396.15 million.

Earlier in July, Saudi Ceramic’s board approved a cash dividend payout of SAR 0.50 per share for H1-22, totalling SAR 39.91 million.

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