Saudi: Riyadh Cement’s profits hike to $60.9mln in 9M-24

PHOTO
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. Reuters, Faisal Al Nasser

Riyadh Cement Company achieved net profits valued at SAR 229.10 million in the first nine months (9M) of 2024, marking a 57.61% leap from SAR 145.35 million in 9M-23.

The revenues hit SAR 555.55 million in January-September 2024, higher by 17.72% than SAR 471.90 million a year earlier, according to the interim financial statements.

Earnings per share (EPS) increased year-on-year (YoY) to SAR 1.91 in 9M-24 from SAR 1.21.

Financials for Q3-24

In the third quarter (Q3) of 2024, the Saudi firm registered 405.52% YoY higher net profits at SAR 94.57 million, compared to SAR 18.70 million.

Riyadh Cement generated a 59.65% hike in revenue to SAR 203 million during July-September 2024, versus SAR 127.15 million in Q3-23.

Quarterly, the Q3-24 net profits jumped by 46.80% from SAR 64.42 million in Q2-24, while the revenues enlarged by 24.04% from SAR 163.65 million.

As of 31 March 224, the company posted 4.43% YoY lower net profits at SAR 70.10 million, compared to SAR 73.35 million.