Najran Cement posts 61.5% lower profits in Q1-22 interim results

On a quarterly basis, the revenues in Q1-22 inched up by 0.14%

Staff Writer, Mubasher

May 23, 2022

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Riyadh – Najran Cement Company has achieved net profits after Zakat and tax worth SAR 23.28 million during the first quarter (Q1) of 2022, an annual drop of 61.41% from SAR 60.34 million.

Revenues reached SAR 139.86 million in the January-March 2022 period, down 24.16% from SAR 184.43 million during the same period a year earlier, according to the initial financial results.

Moreover, the earnings per share (EPS) stood at SAR 0.14 in Q1-22, versus SAR 0.35 in Q1-21.

On a quarterly basis, the revenues in Q1-22 inched up by 0.14% from SAR 139.65 million in Q4-21, while the net profits fell by 35.36% from SAR 36.02 million.

In 2021, the Saudi listed firm recorded net profits after Zakat and tax worth SAR 165.54 million, a 17.61% year-on-year (YoY) plunge from SAR 200.94 million.

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