Saudi: Yamama Cement’s net profit grows over 2% YoY in Q1-24

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Revenues declined by 2.19% YoY

Staff Writer, Mubasher

April 30, 2024

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Riyadh – Yamama Cement Company’s net profit increased by 2.34% year-on-year (YoY) to SAR 115.03 million in the first quarter (Q1) of 2024 from SAR 112.39 million.

Revenues declined by 2.19% YoY to SAR 273.70 million in Q1-24 from SAR 279.86 million, according to the interim financial results.

The earnings per share (EPS) reached SAR 0.57 in the three-month period that ended on 31 March 2024, up from SAR 0.56 a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit soared 118.02% in Q1-24 from SAR 52.76 million, while revenues leapt 21.89% from SAR 224.54 million in the previous quarter.

In 2023, Yamama reported a net profit of SAR 304.25 million, generated through total sales amounting to SAR 935.19 million.

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