Yamama Cement profit soars 42% in Q3

The leap in the interim profits was supported by higher sales volume

  
A Saudi man looks at the computer showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

A Saudi man looks at the computer showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: The net earnings of Yamama Cement Company stood at SAR 77.7 million in the third quarter (Q3) of 2020, a surge of 42% when compared to SAR 54.7 million in the same quarter in 2019.

The leap in the interim profits was supported by higher sales volume and other income, according to a bourse filing on Tuesday.

Revenues for Q3-20 came in at SAR 217.5 million, compared to SAR 186.5 million in Q3-19, posting a 16.6% annual growth.

In the first nine months of the year, the company’s profits totalled SAR 249.5 million, up by 39.8% on an annual basis.

Source: Mubasher

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