Riyadh – Mubasher: The financial statements of Saudi Cement Company showed an increase in profits by 12.7% in 2019.
Annual net profit after zakat and tax amounted to SAR 451.4 million last year, compared with SAR 400.5 million for 2018.
The rise in profits is attributed to higher sales, despite an increase in general and administrative costs, as well as sales and distribution costs and finance expenses.
During the fourth quarter (Q4) of 2019, net profit grew by 15% to SAR 143.6 million, compared with SAR 124.8 million for the same period in the year before.
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