Najran Cement’s net profit drops by 26% YoY in Q1-24

Revenues declined by 3.86% YoY to SAR 138.12 million in Q1-24 from SAR 143.68 million, according to the interim financial results

Staff Writer, Mubasher

May 19, 2024

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Najran Cement Company’s net profit plummeted by 25.65% year-on-year (YoY) to SAR 21.54 million in the first quarter (Q1) of 2024 from SAR 28.98 million.

Revenues declined by 3.86% YoY to SAR 138.12 million in Q1-24 from SAR 143.68 million, according to the interim financial results.

The earnings per share (EPS) amounted to SAR 0.13 in the three-month period that ended on 31 March 2024, down from SAR 0.17 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit grew by 12.94% in Q1-24 from SAR 19.07 million in Q4-23, while the revenues rose by 8.90% from SAR 126.82 million.

Najran Cement’s net profit plunged by 38.45% YoY to SAR 69.43 million in 2023 from SAR 112.80 million.

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