Riyadh – Mubasher: City Cement Company generated SAR 67.25 million in net profit after Zakat and tax during the first nine months (9M) of 2022, lower by 56.26% than SAR 153.77 million in 9M-21.
Revenues amounted to SAR 297.42 million in the January-September 2022 period, down 26.02% year-on-year (YoY) from SAR 402.02 million, according to the initial financial results.
Additionally, the earnings per share (EPS) settled at SAR 0.48 in 9M-22, versus SAR 1.10 in 9M-21.
During the third quarter (Q3) of 2022, the company posted an annual drop of 33.60% in net profit after Zakat and tax to SAR 25.26 million, compared to SAR 38.04 million.
The revenues plummeted by 10.30% YoY to SAR 100.08 million in Q3-22 from SAR 111.57 million.
On a quarterly basis, the Q3-22 net profits after Zakat and tax rose by 1.70% from SAR 24.84 million in Q2-22, whereas the revenues increased by 12.15% from SAR 89.23 million.
In the first half (H1) of 2022, the net profits after Zakat and tax of City Cement reached SAR 41.99 million, a plunge of 63.71% from SAR 115.72 million in H1-21.
Last September, the Saudi firm paid a total of SAR 56 million as cash dividends for H1-22.
