Riyadh Cement posts $50.3mln net profit in 2023

The company’s revenues rose 7.59% YoY to SAR 643.38 million last year from SAR 598.06 million, according to the annual financial results

Staff Writer, Mubasher

March 19, 2024

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Riyadh Cement Company’s net profit edged lower by 0.56% year-on-year (YoY) to SAR 188.77 million in 2023 from SAR 189.83 million.

The company’s revenues rose 7.59% YoY to SAR 643.38 million last year from SAR 598.06 million, according to the annual financial results.

The earnings per share (EPS) hit SAR 1.57 in 2023, down from SAR 1.58 the year before.

It is worth noting that Riyadh Cement’s net profit recorded SAR 126.64 million in the first half (H1) of 2023, up 53.18% YoY from SAR 82.67 million.

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