Yamama Cement’s profits shrink 58% in Q3

Revenues also decreased by 31.6%

  
Investors talk as they monitor screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh.

Investors talk as they monitor screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Yamama Cement Company posted a plunge of 58% in net profits after Zakat and tax to SAR 39.97 million during the third quarter (Q3) of 2021 from SAR 95.31 million in Q3-20.

Revenues also decreased by 31.6% to SAR 170.66 million in Q3-21 from SAR 249.64 million in Q3-20, according to the financial results on Tuesday.

On a quarterly basis, the net profits were 48.5% lower than SAR 77.68 million in Q2-21, and the revenues shrank by 15.7% from SAR 202.57 million.

During the first nine months of 2021, Yamama Cement registered net profits worth SAR 172.52 million, down by 36% from SAR 270.11 million in the same period last year.

Earnings per share stood at SAR 0.85 at the end of September 2021, compared to SAR 1.33 in the same period a year earlier.

Sales also decreased by 21.6% to SAR 553.5 million in the January-September 2021 period from SAR 706.79 million in the same nine months in 2020.

Source: Mubasher

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