The growth in profits is owed to higher sales revenue by 22.8% as the sales volume surged 23%
By Staff Writer, Mubasher
Riyadh – Southern Province Cement Company logged SAR 135 million worth of net profits over the second quarter (Q2) of 2020, 48.35% more than SAR 91 million in the same quarter in 2019.
The growth in profits is owed to higher sales revenue by 22.8% as the sales volume surged 23%, in addition to higher other income by 282.01%, according to a statement to the Saudi Stock Exchange (Tadawul) on Monday.
Revenue for the three-month period ended 30 June 2020 increased to SAR 339 million, compared with SAR 276 million in the year-ago period.
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.