Umm Al Qura Cement posts 61% plunge in Q3 net profits

Revenues declined by 34.9%

  
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser
Riyadh –  Umm Al Qura Cement Company registered an annual decrease of 60.9% in net profits after Zakat and tax to SAR 12.47 million during the third quarter (Q3) of 2021 from SAR 31.91 million in Q3-20.

Revenues declined by 34.9% to SAR 56.95 million in Q3-21 from SAR 87.6 million in Q3-20.

On a quarterly basis, the Q3-21 profits were 32% lower than SAR 18.41 million in Q2-21, and the revenues shrank 10.8% from SAR 63.89 million, according to the interim financial results on Wednesday.

During the first nine months of 2021, Umm Al Qura Cement posted a year-on-year (YoY) plunge of 32% in net profits to SAR 61.92 million from SAR 91.39 million.

Earnings per share stood at SAR 1.13 in the nine-month period this year from SAR 1.66 in the same duration in 2020.

Revenues went down 14% YoY to SAR 211.25 million in the January-September 2021 period from SAR 246.61 million.

Source: Mubasher

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