Saudi Cement achieves $55mln profits in H1-21

Sales increased by 3.9% to $207.25mln in the January-June 2021

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

REUTERS/Ahmed Yosri
Riyadh –   Saudi Cement Company registered net profits after Zakat and tax worth SAR 205.8 million in the first half (H1) of 2021, a decrease of 8% from SAR 224.2 million in H1-20.

Earnings per share stood at SAR 1.35 in H1-21, compared to SAR 1.47 in H1-20, according to the financial results on Tuesday.

Sales increased by 3.9% to SAR 777.2 million in the January-June 2021 period from SAR 747.8 million in the same six months last year.

During the second quarter (Q2) of 2021, the cement company achieved a 14% annual rise in net profits to SAR 86.4 million from SAR 75.7 million in Q2-20.

Revenues grew 17% to SAR 348.1 million in Q2-21 from SAR 297.5 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 27.6% lower than SAR 119.4 million in Q1-21, and the revenues shrank by 18.8% from SAR 429.1 million.

Source: Mubasher

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