Umm Al Qura Cement’s profits fall 72% in 2022

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Revenues plunged by 15.13%

Staff Writer, Mubasher

March 22, 2023

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Riyadh – The net profits after Zakat and tax of Umm Al Qura Cement Company shrank by 71.77% to SAR 22.98 million in 2022 from SAR 81.43 million in 2021.

The Saudi firm generated revenues worth SAR 221.21 million during January-December 2022, a 20.66% year-on-year (YoY) decline from SAR 278.83 million, according to the annual financial results.

Earnings per share (EPS) hit SAR 0.42 last year, compared to SAR 1.48 in 2021.

In the first nine months (9M) of 2022, Umm Al Qura Cement recorded 54.06% YoY lower net profits after Zakat and tax at SAR 28.44 million, versus SAR 61.92 million.

Revenues plunged by 15.13% to SAR 179.29 million in 9M-22 from SAR 211.25 million in 9M-21, while the EPS retreated to SAR 0.52 from SAR 1.13.

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