Saudi Eastern Province Cement’s H1-21 profits rise 5%

Sales increased by 12.8% to $114.4mln in H1-21

  
A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

REUTERS/Stringer
Riyadh –  Eastern Province Cement Company registered net profits after Zakat and tax worth SAR 122 million in the first half (H1) of 2021, up 5% from SAR 116 million in H1-20.

Earnings per share amounted to SAR 1.42 in H1-21, compared to SAR 1.35 in H1-20.

Sales increased by 12.8% to SAR 429 million in H1-21 from SAR 380 million in H1-20, according to a bourse filing on Wednesday.

In the second quarter (Q2) of 2021, the cement company achieved a 106% surge in net profits to SAR 62 million from SAR 30 million in Q2-20.

Revenues soared by 45% to SAR 212 million in Q2-21 from SAR 146 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 3.3% higher than SAR 60 million in Q1-21, while the revenues decreased by 2.3% from SAR 217 million.

Source: Mubasher

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