Saudi Cement posts 12.7% rise in profits

Net profit amounted to $120mln last year

  
A labourer works at a construction site for a residential building in Riyadh. Image used for illustrative purpose.

A labourer works at a construction site for a residential building in Riyadh. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

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.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction