Saudi Cement profit levels up 1% in 2020

Revenue for the past year increased by 8.9% yearly

  
Image used for illustrative purpose. Pouring concrete to the foundations of the building.

Image used for illustrative purpose. Pouring concrete to the foundations of the building.

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Riyadh – Mubasher: The net profits of Saudi Cement Company grew by 1% during the year 2020 on an annual basis to stand at SAR 456 million.

The rise in annual net earnings is attributed to increasing sales and other income, coupled with decreasing general and administrative expenses, and financing expenses, according to a bourse statement on Thursday.

Revenue for the past year hiked by 8.9% yearly, reaching SAR 1.57 billion from SAR 1.44 billion in the previous year.

Source: Mubasher

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