The growth in profits is owed to higher sales revenue by 22.8% as the sales volume surged 23%
By Staff Writer, Mubasher
Riyadh – Southern Province Cement Company logged SAR 135 million worth of net profits over the second quarter (Q2) of 2020, 48.35% more than SAR 91 million in the same quarter in 2019.
The growth in profits is owed to higher sales revenue by 22.8% as the sales volume surged 23%, in addition to higher other income by 282.01%, according to a statement to the Saudi Stock Exchange (Tadawul) on Monday.
Revenue for the three-month period ended 30 June 2020 increased to SAR 339 million, compared with SAR 276 million in the year-ago period.
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