Hail Cement’s net profit dips 19% YoY in Q1-24

Reuters Images/Ahmed Yosri

Revenues leapt 19.29% YoY to SAR 73.78 million in Q1-24 from SAR 61.85 million, according to the interim financial results

Staff Writer, Mubasher

May 14, 2024

PHOTO

Hail Cement logged an 18.95% year-on-year (YoY) plunge in net profit to SAR 15 million in the first quarter (Q1) of 2024 from SAR 18.51 million.

Revenues leapt 19.29% YoY to SAR 73.78 million in Q1-24 from SAR 61.85 million, according to the interim financial results.

The earnings per share (EPS) registered SAR 0.156 in the three-month period that ended on 31 March 2024, down from SAR 0.192 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit soared 364.23% in Q1-24 from SAR 3.23 million in Q4-23, while the revenues jumped 31.98% from SAR 55.90 million.

In 2023, Hail Cement reported a 49.95% YoY surge in net profit to SAR 24.61 million from SAR 16.41 million.

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